Koor Industries Ltd. (KOR.TV) said Wednesday that it has obtained 330 million Swiss francs ($302 million) in non-recourse credit from Citigroup Inc. (C) in order to purchase more shares of Credit Suisse (CS)

This announcement comes after Koor spent 900 million shekels ($225 million) Monday to buy an additional 0.5% of Credit Suisse, increasing its holdings in the Swiss banking giant to 1.73%.

Koor, a holding company, first invested in Credit Suisse in July, 2008, and has bought and sold shares in the bank several times since then.

During the first quarter, January through March, 2009, ILS163 million of Koor's total net profit of ILS250 million came from the selling Credit Suisse shares.

At 0640 GMT, shares of Koor were up in early trading ILS0.80, or 0.86%, at ILS93.80 in a higher Tel Aviv market.

-By Sara Toth, Contributing to Dow Jones Newswires, saratoth@gmail.com