Credit Suisse says seeks $4bn capital, Saudi National Bank to invest up to $1.5bn

GENEVA: Credit Suisse said Thursday it intends to raise capital worth four billion Swiss francs ($4 billion) as part of a strategic overhaul of Switzerland’s second biggest bank.

Credit Suisse banking on restructure revamp

“Credit Suisse has today announced its intention to raise capital with gross proceeds of ~four billion Swiss francs through the issuance of new shares to qualified investors, including Saudi National Bank, which has committed to invest up to 1.5 billion Swiss francs to achieve a shareholding of up to 9.9 percent,” the bank said in a statement.