Shares of Swiss investment bank Credit Suisse jumped as much as 40 per cent on Thursday after Switzerland’s central bank stepped in to support the lender, triggering a rally in bank stocks across Europe on easing investor concern that the firm’s troubles would trigger a global banking crisis.

A day earlier, the bank was staring into an abyss of uncertainty after its stock crashed 31 per cent just as wider markets were recovering from a battering triggered by the shuttering of California-based Silicon Valley Bank.

Read the full story here: https://gulfnews.com/business/banking/watch-why-swiss-banking-giant-credit-suisse-needed-a-54-billion-lifeline-1.94511110

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