Credit Suisse is a multinational financial services company based in Switzerland. It was founded in 1856 and offers a range of financial products and services, including investment banking, wealth management, asset management, and retail banking. Credit Suisse is one of the largest banks in Switzerland and has a significant global presence, with operations in more than 50 countries. The company is listed on the SIX Swiss Exchange and the New York Stock Exchange.
Saudi National Bank (SNB)
I believe you may be referring to the Saudi National Bank (SNB), also known as AlAhli Bank. It is a Saudi Arabian bank based in Riyadh, Saudi Arabia. It was founded in 1953 and is one of the largest banks in the Middle East, providing a wide range of financial products and services, including personal banking, corporate banking, and investment banking. The Saudi National Bank has a significant presence in Saudi Arabia and has also expanded its operations to other countries in the region. It is listed on the Saudi Stock Exchange (Tadawul) and is majority-owned by the Saudi Arabian government.
“Trading halted” is a phrase used in finance to indicate that trading in a particular stock or security has been temporarily stopped. This may happen for a variety of reasons, such as a significant news announcement about the company, a sudden market downturn, or technical issues. When trading is halted, investors are unable to buy or sell the affected security until the halt is lifted, usually after the situation causing the halt has been resolved.
European bank stocks fell
European bank stocks experienced a decline in their value. This could mean that the stock prices of European banks, such as Deutsche Bank, Barclays, or Credit Suisse, decreased in value in the stock market. The reasons for this decline in value could be due to a variety of factors, such as negative economic news, concerns about the financial health of individual banks, changes in interest rates or currency values, or global market volatility. The decline in bank stocks could potentially impact the wider economy, as banks play an important role in providing credit and financial services to businesses and individuals.