Credit Suisse gets merchant banking license

New Delhi, July 4: Securities and Exchange Board of India (SEBI) has granted a merchant banking licence to Hong Kong-based Credit Suisse Ltd which will allow the bank to provide a wide range of onshore securities underwriting and corporate finance services in the country.

''Our expansion into investment banking onshore in India highlights Credit Suisse's broad-based approach in building an integrated, comprehensive global financial services platform in the country,'' Credit Suisse (Investment Bank) CEO Paul Calello said in a statement today.

The bank forecasts a ten per cent Indian GDP growth in 2007, versus market consensus of eight per cent.

In addition to capital raisings, Credit Suisse expects Indian companies to be increasingly active in cross border M&A and domestic consolidation in industries such as financial services, general industries, consumer goods, natural resources, communications and IT, and real estate.

Credit Suisse launched its India brokerage operation in March 2007. It also opened in early 2007 a Centre of Excellence in Pune, providing support in IT, operations, product control, as well as a range of front office functions including equity research, and analytics functions.

The investment banking team is led by Mr V Anantharaman, who joined Credit Suisse in October 2006.

Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland.

UNI