The Latest Breaking News from SNB

Saudi National Bank Says Credit Suisse Crisis Has No Impact on Growth Plans

In light of the repercussions of the crisis experienced by the Credit Suisse Group, the second largest bank in Switzerland, which has been operating for 167 years, the Saudi National Bank announced on Monday that any change in the fair value of its investment in the Swiss group would not…

Asharq Al-Awsat · Mar 21, 2023

What happened to Credit Suisse and why are banks needing bailouts again?

Could isolated failures herald another global banking crisis?

The Independent UK · Mar 21, 2023

Interest rates: why the Federal Reserve and Bank of England should still raise them (a bit)

What will the Federal Reserve and Bank of England do with benchmark interest rates in the wake of the banking crisis? Traditionally, controlling inflation has been the prime mandate of central banks.

The Conversation · Mar 20, 2023

ECB’s Lagarde insists banks much stronger than in 2008 after raising interest rates despite Credit Suisse turmoil – as it happened

ECB presses on with 0.5 point increase in eurozone interest rates, and says it stands ready to respond to market turmoil

The Guardian - UK · Mar 16, 2023

Credit Suisse to borrow up to $54bn amid banking crisis fears

Announcement comes after Zurich-based bank’s shares lost more than one-quarter of their value in a day.

Al Jazeera · Mar 15, 2023

More than £75bn wiped off FTSE 100 amid Credit Suisse crisis

Swiss bank’s shares fall to record low as top shareholder Saudi National Bank rules out more funding

The Guardian - UK · Mar 15, 2023

Swiss may face referendum on keeping cash

Swiss citizens are likely to vote in a future referendum on whether to enshrine the availability of cash in the constitution.

Bangkok Post · Feb 18, 2023

Saudi National Bank’s Third Quarter Profit up 18.7%

Saudi National Bank, the Kingdom's biggest lender, said on Sunday its net profit in the third quarter rose 18.7% from the same period year before on higher operating income and lower net impairments for expected credit losses. SNB posted net profit of 4.725 billion riyals ($1.26 billion) in the quarter,…

Asharq Al-Awsat · Oct 23, 2022

Swiss National Bank exits negative rates era with 0.75% hike

Switzerland exited the era of negative interest rates on Thursday when its central bank joined others around the world in tightening monetary policy more aggressively to combat resurgent inflation.

Reuters · Sep 22, 2022

Fight against inflation raises spectre of global recession

Analysis: Interest rate cuts show central banks willing to plunge economies into recession to halt price rises

The Guardian - UK · Jun 17, 2022