Credit Suisse's largest shareholder, Saudi National Bank, will "absolutely not" support the bank by increasing its capital, its chairman Ammar al-Khudairy said in an interview with Bloomberg TV.
Credit Suisse's reputation has been tarnished by a series of scandals in recent years.
The Saudi National Bank had come to its rescue by participating in a capital increase of 4 billion Swiss francs in November as part of a major restructuring.
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Asked by Bloomberg TV if he was ready to support Credit Suisse in the event of a new fundraising, Mr. al-Khudairy replied: “absolutely not, for several reasons in addition to the simplest, which are regulatory and statutory” .
“We currently own 9.8% of the bank.
If we exceed 10%, a series of new rules come into force” and “we are not inclined to enter a new regulatory regime”, explained Ammar al-Khudairy.
The statements caused Credit Suisse to fall by more than 15% on the stock market.
It dragged in its wake the banking sector, already heckled in recent days after the bankruptcy of the American bank Silicon Valley Bank (SVB).
Credit Suisse, one of the banks perceived as the most fragile in Europe, plunged 7.01% around 09:30 GMT in a falling stock market environment.
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