Credit Suisse announced on Thursday that it will delay publishing its 2022 annual report.
Stefan Weymus | Bloomberg | Getty Images
Shares in embattled Credit Suisse bank hit record lows for a second day in a row, falling as much as 18.3% around 10am London time on Wednesday.
The bank’s largest investor, the National Bank of Saudi Arabia, said it could not provide any further financial assistance to the Swiss lender, Reuters reported.
“We can’t because we’ll be over 10 percent. It’s a regulatory issue,” National Bank Chairman Ammar Al Khudairy told Reuters on Wednesday.
Investors are also continuing to assess the impact of the bank’s Tuesday announcement “Material deficiencies” in financial reporting 2022 and 2021 processes.
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— Elliot Smith contributed to this report.