Credit Suisse invests 164m in India unit

Credit Suisse Group has injected more funds into its Indian non-banking financial unit that would help scale up its business operations.
Switzerland's second largest bank has put in Rs 794 crore (approx. $164 million) in Credit Suisse India Finance, expanding its capital base to Rs 827 crore.

The additional money would be used for lending to corporates and for investments in stocks a time when money has become scarce. Mihir Doshi, MD and country head of Credit Suisse," We will continue to invest selectively in the growth of wealth management, investment banking and asset management business. This capital infusion is a clear statement of our commitment to the growth of our business in India."

Credit Suisse launched its India brokerage operation and obtained a merchant banker license in 2007. It was granted a portfolio manager license in 2008 to provide high net worth individuals as well as family-owned businesses and entrepreneurs with a vast range of local and international investment products and services.

http://timesofindia.indiatimes.com/Business/Credit_Suisse_invests_164m_in_India

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Credit Suisse invests 164m in India unit