• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, Jan. 6 Swiss investment bank Credit Suisse has brought in Rs 794 crore to India to fund its non-banking financial service business.

With this, Credit Suisse Finance (India) Private Ltd, the NBFC arm, has a total capital of Rs 827 crore, the bank said in press release on Tuesday.

Credit Suisse had acquired a Chennai based non-deposit taking NBFC, Bokdia Marketing and Finance, last year. The company has now changed the name to Credit Suisse Finance (India) Pvt Ltd.

The new NBFC arm of Credit Suisse will provide asset-backed financing, securities-backed financing, IPO lending and pre-IPO funding facilities to corporate and individual clients, said Mr Mihir Doshi, Managing Director and Country Head of Credit Suisse in India.

In 2007, Credit Suisse launched its India brokerage operation and obtained a merchant banker licence. It was granted a portfolio manager licence in 2008.

Credit Suisse entered the NBFC sector when many players have exited or trimmed operations. The move to enter at this time could be good if the company has a long-term plan. At present, valuations are attractive and the company would get the option of picking and choosing its clients. It would also depend on the company’s India-specific plans and its risk appetite, said Mr Arshad Khan, Associate Director, Financial Institutions, Fitch Ratings.

Though it might not be a right time to go ahead with expansion plans, it is a good time to roll out operations, he added

More Stories on : Investment Banking | NBFCs

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line