Saudi Olayan Group raises Credit Suisse stake to 10.72%

Saudi Arabian firm Olayan Group has increased its stake in Switzerland-based Credit Suisse to 10.72 percent including options, the bank said on Friday.

“In a disclosure report dated September 14, 2016, Credit Suisse Group AG was notified that as [of] September 12, 2016, Olayan Group held 10.72 percent of the voting rights entered in the Commercial Register (5.41 percent shares; 5.31 percent purchase rights),” Credit Suisse said on its website.

A disclosure by the Swiss bank on June 9 showed that Olayan's holdings stood at 10.15 percent.