The chairman of Saudi Arabia’s largest lender, the Saudi National Bank (SNB), Ammar Al Khudairy, has resigned from his position, the bank announced on Monday. Although, Khudairy’s resignation was officially “due to personal reasons,” it came mere days after his comments triggered a share price collapse of Switzerland’s second-largest bank, Credit Suisse. He categorically stated that SNB would not provide additional capital to the troubled Credit Suisse in an interview with Bloomberg TV on Monday.
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The boss of the Saudi National Bank abruptly resigned from his post Monday, just days after his critical comments about Credit Suisse contributed to the troubled lender’s near-collapse.
Chair of Saudi National Bank (SNB) Ammar Al Khudairy stepped down today after the bank chalked up a $1.2bn loss on its investment in Credit Suisse. SNB