Credit Suisse has launched its
Lombard Loan product range in India for its wealth management
clients as it continues to make in-roads in the one of the world’s
fastest growing economies.
The new product line provides
financing to clients through its non-banking financial subsidiary
in India, Credit Suisse Finance (India) Pvt Ltd.
Go deeper with GlobalData
Lombard Loan
products include lending on single stock, diversified portfolios
including equities, mutual fund units, fixed deposits and
structured products.
The bank first
began offering wealth management operations in India in 2008.
Credit Suisse granted Indian
bank licence
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By GlobalDataIn August, Credit Suisse received a licence from the
Reserve Bank of India to establish a bank branch in
Mumbai.
The licence enables Credit Suisse to
expand the range of services it offers in the market, including
dealing in Indian Government securities, other domestic fixed
income products and foreign exchange and compete with the most
active players such as BNP Paribas/Geojit and Religare Macquarie.
The bank said the launch represents
a “landmark” in Credit Suisse’s Indian expansion.
