Qatar Investment Authority raises stake in Credit Suisse

Dubai: Qatar's sovereign wealth fund, the Qatar Investment Authority, has increased its stake in Swiss bank Credit Suisse to 5.21 per cent, the Qatar state news agency QNA said on Saturday.
"Qatar Investment Authority (QIA) has become the largest investor in Switzerland's Credit Suisse, after increasing its stake to 5.21 per cent," the agency said, without providing further details.
QIA's stake in Credit Suisse Group had fallen below 5 per cent last August, but an SEC filing on Friday showed it had reported a 5.07 per cent passive stake as of Aug. 6, 2018.
The sovereign wealth fund said last year it planned to expand its holdings.
Bankers have said Qatar's stake in Credit Suisse might become an issue for the Swiss bank's plan to expand in Saudi Arabia, where it is seeking a full banking licence.
However, Credit Suisse CEO Tidjane Thiam has denied facing any issues in the kingdom related to these ties, saying he had personally travelled to Saudi Arabia to apply for the licence.
QIA is the 10th biggest sovereign wealth fund in the world with assets of $320 billion, according to the Sovereign Wealth Fund Institute. It also holds stakes in Volkswagen, Barclays and The London Stock Exchange.