After tripling its ownership of the troubled Swiss lender late last year, the Qatar Investment Authority is now Credit Suisse’s second-largest shareholder, according to a filing with the U.S. Securities and Exchange Commission.
Around the time of the financial crisis, the QIA—sovereign Qatar’s wealth fund—started making early investments in Credit Suisse. According to the statement on Friday, it now holds 6.8% of the bank’s shares, which is just slightly less than the Saudi National Bank’s 9.9% holding, which it acquired last year as part of a $4.2 billion capital raising to finance a significant strategic reorganisation.
On February 9, Credit Suisse will release its fourth-quarter and full-year profits. As a result of the continuing reorganisation, the company has already forecast a fourth-quarter loss of 1.5 billion Swiss francs
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