[6][7] On 27 March 2023, Ammar Abdul Wahed Al Khudairy resigned as the bank's chairman citing personal reasons, two weeks after Al Khudairy stated that SNB would not be acquiring more shares in troubled Swiss bank Credit Suisse due to regulatory constraints, which caused more panic among investors.

In 1999, the Government of Saudi Arabia acquired a majority holding in the bank through the Ministry of Finance's Public Investment Fund (PIF).

Chairman: ahmed alfayez CEO: Tareq Abdulrahman Al SadhanCEO, SNB Capital: Rashed I. SharifGroup CFO: Ahmad Ali Al Dhabi Samba Financial Group and NCB planned a mega-merger worth US$15.3 billion.

Later statements indicate this had been increased to the maximum authorised amount of 9.9% and a statement issued on this matter at the time “material weaknesses” were identified by auditors in Credit Suisse accounts contributed to climate which resulted in CS being bought at a steep discount by its rival UBS and despite receiving a massive credit line by the Swiss National Bank.

This will have resulted (subject to any hedging) in a large loss[12] write down in value of investments owned by the Saudi National Bank.