Credit Suisse expanding in Mid-East with Bahrain branch

Credit Suisse will soon open a branch in Bahrain as it seeks to win more business in the fast-growing Middle East region, Switzerland's second-largest bank by assets said on Monday.

The branch, to be headed by Khaled Salah, will offer asset management services to wealthy individuals, families and corporations, and give clients access to Credit Suisse's platform for specialised financial products.

Credit Suisse's Middle East operations also include offices in Abu Dhabi, Beirut, Cairo, Doha, Dubai, Jeddah and Riyadh.

The bank seems on an expansion mode to exploit the less recession-hit Asian markets.

Yersterday, it also announced in-principle approval from the Reserve Bank of India to open a branch in the country. (See: RBI grants provisional approval for Credit Suisse bank branch in India)