Saudi National Bank chair resigns after Credit Suisse buyout – Roya News English

Saudi National Bank chair resigns after Credit Suisse buyout – Roya News English

The chairman of Saudi National Bank, which was the main shareholder of troubled lender Credit Suisse before its buyout this month, has resigned, a statement said on Monday.

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's shares plummeted on March 15 after AlKhudairy said the Saudi bank would not raise its stake from 9.8 percent due to regulatory constraints.