RIYADH: Saudi National Bank said that it has no plans now to take board seats in Credit Suisse, but is “open-minded” about it if things change, after it announced investing up to $1.5 billion in the Swiss bank to take a 9.9 percent stake.
The deal will help SNB develop a “strong strategic collaboration” to deliver global standards of products and services to serve its clients better in Saudi Arabia and the region, the Saudi bank said in a press release.
The potential partnership with Credit Suisse will be subject to applicable approvals and clearances.
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