Qatar Investment Authority raises stake in Credit Suisse

Qatar's sovereign wealth fund has increased its stake in Credit Suisse (CSGN.S) to just under 7%, becoming the Swiss bank's second-largest shareholder after Saudi National Bank, Report informs referring to Reuters.

The Qatar Investment Authority (QIA) bought 139.03 million shares in the Swiss lender, Refinitiv data shows based on a filing on January 20 with the Securities and Exchange Commission which quoted its most recent ownership holding as of December 31, 2022.

The new shares bring the QIA’s ownership in Credit Suisse to 6.87%, amounting to 272.25 million shares, from 5.57% as reported in its last SEC filing in November.

Credit Suisse declined to comment when contacted by Reuters on Monday and the QIA did not immediately respond to a request for comment.

Credit Suisse's shares rose 2.2% on January 23 to close at 3.15 Swiss francs.

US investment firm Harris Associates, one of Credit Suisse's largest shareholders, shed its holding to about 5%, according to regulatory filings on January 11 from a stake of about 10% in the bank last August.