Qatar Investment Authority doubles Credit Suisse stake

The Qatar Investment Authority has doubled its stake in Credit Suisse as the embattled Swiss lender increases its reliance on Middle Eastern investors.

The QIA, which began investing in Credit Suisse during the financial crisis, will be the bank’s second biggest investor after the Saudi National Bank.

It comes as US shareholders continue to offload stakes in the Swiss lender after a major restructuring at the end of last year. Chicago-based Harris Associates, which was the bank’s biggest shareholder just a few months ago with a 10pc stake, now owns less than 5pc of its shares.

The QIA doubled its stake in Credit Suisse late last year and now owns a 7pc stake, according to a filing with the Securities and Exchange Commission.