Subnostr

Credit Suisse Group AG was recently acquired by fellow Swiss bank UBS Group AG on the 19th March 2023 at a steep discount of just $3.25 billion.

The Saudi National Bank (37% owned by the country’s sovereign wealth fund), invested around $1.4 billion into Credit Suisse (9.9% of shares) at the end of last year, which is now worth just $329 million.

Another nail in the coffin of the petrodollar scheme ⚰️