Yet, in a separate interview before European markets opened on March 16, Al Khudairy maintained he would not want to increase his stake in Credit Suisse for regulatory reasons, that the Swiss bank was generally “sound”, and that the panic he sparked off the day earlier was “completely unwarranted”.
Ammar Al Khudairy, chairman of Saudi National Bank, the single largest shareholder of Credit Suisse, triggered the big selloff in the European bank on March 15.
Asked if SNB would inject more capital into the beleaguered bank, his firm response of “absolutely not” sparked off a frenetic scramble by the Swiss bank to put in place a credit line of CHF50 billion ($73.09 billion) from its own government.
