Saudi National Bank

Representatives from more than 120 Saudi companies will visit Türkiye to discuss investment and cooperation opportunities.

The chairman of Saudi National Bank, the main shareholder of troubled lender Credit Suisse which was bought out this month, has resigned, a statement said yesterday.

The Saudi bank's board of directors "accepted the resignation" of Ammar AlKhudairy "due to personal reasons," said the statement published on the Saudi stock exchange.

Credit Suisse announced yesterday that it would borrow almost $54 billion from the Swiss central bank to reinforce the group after a plunge in its share prices.

The disclosure came just hours after the Swiss National Bank said capital and liquidity levels at the lender were adequate for a "systemically important bank," even as it pledged to make liquidity available if needed.

The Swiss bank Credit Suisse will take a short-term loan of up to 50 billion Swiss francs from the Swiss National Bank.

The bank, whose shares collapsed yesterday on the Swiss stock exchange, announced in parallel a series of debt buybacks for around 3 billion Swiss francs. Yesterday, the bank's share price fell by 24.24 percent.