Koor Industries Ltd. (KOR.TV) said Monday it has increased its stake in Credit Suisse Group (CS) to 1.28% from 0.7%.

Israel-based Koor now holds 6.9 million shares in the Swiss banking company, worth a total of 2.59 billion Israeli shekels ($664 million), according to market value, Koor said. Koor spent ILS2.12 billion to buy the shares.

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 of 2009, ILS163 million out of its total net profit of ILS250 million was attributed to the sale of Credit Suisse shares.

At 1058 GMT, Koor shares were down ILS2.41, or 2.65%, at ILS88.39, in a lower Tel Aviv market.

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