ZURICH, Sept 16 Saudi Arabian conglomerate
Olayan Group has increased its holdings in Credit Suisse
to 10.72 percent including options, the Swiss bank said
"In a disclosure report dated September 14, 2016, Credit
Suisse Group AG was notified that as at 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.
In a disclosure on June 9 from the Swiss stock exchange,
Olayan's holdings amounted to 10.15 percent.
Last month, U.S. asset manager Capital Group Companies also
increased its holdings in Zurich-based Credit Suisse to 5.05
percent from 3.014 percent.
Shares in Credit Suisse, Switzerland's second-biggest bank,
are down around 42 percent in 2016.
The bank is undergoing a major restructure under Chief
Executive Tidjane Thiam, who is refocusing the business towards
wealth management while shrinking Credit Suisse's investment
(Reporting by Joshua Franklin; Editing by Michael Shields)