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.<br /><br />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.<br /><br />Read the full story here: https://gulfnews.com/business/banking/watch-why-swiss-banking-giant-credit-suisse-needed-a-54-billion-lifeline-1.94511110<br /><br />See more videos at https://gulfnews.com/videos<br />Read more Gulf News stories here: https://bit.ly/2HLJ2km<br /><br />Subscribe to Gulf News on YouTube and watch more of our videos: https://www.youtube.com/user/GulfNewsTV<br /><br />#UAEnews #siliconvalleybank #creditsuisse
