The Qatar Investment Company has increased its stake in the shares of Credit Suisse Group to 8.9% while Saudi conglomerate Olayan has 3.6%, the Swiss bank said on Friday.
Credit Suisse had already announced the involvement of Qatar and Olayan in a SFR10 billion (US$8.64 billion) capital hike last week, but did not detail their new stakes then.
According to a stock exchange disclosure, Qatar, already a big investor in the Swiss bank, now holds 8.9% of the bank’s registered shares and 1% in Credit Suisse derivatives, adding up to 9.9% of voting rights.
Olayan, meanwhile, now holds 3.6% of registered shares and 3.4% of mandatory convertible notes, adding up to 7% of voting rights. It added the convertible notes to its existing shareholding in last week’s capital raising.
The capital injection boosted Credit Suisse’s Tier 1 ratio, a measure of financial strength, to 13.7%, making it one of the world’s best-capitalised banks.
The bank confirmed on Thursday a SFR1.3 billion third-quarter loss and said it had cut exposure to leveraged finance by 17 % to SFR11.9 billion, while exposure to commercial mortgage-backed securities (CMBS) fell by 15% to SFR12.8 billion.
Credit Suisse has fared better than its domestic peer UBS and other rivals in the financial crisis and has so far declined state help, but investors fear its investment banking could continue to struggle if markets stay under pressure.