DSP Merrill Lynch named ''Best Private Bank''

Investment banking and securities major DSP Merrill Lynch Ltd (DSPML) has been named the ''best private bank'' in India by Euromoney, in its 2004 private banking poll, results of which were released in January 2005. It has bagged this coveted position in all three high net worth categories: $1million to $10million, $10 million to $ 30 million and the ultra high net worth category of over $30 million.

DSP Merrill Lynch Limited provides securities broking, distribution of securities including mutual fund schemes and depository participant services to high net worth individuals and their associated entities.

"It is an honour to receive the award and we would like to thank our clients who have the confidence in our services," DSP Merrill Lynch executive vice chairman Shitin Desai said. "The award reflects our commitment to building long term relationships with our clients."

DSP Merrill Lynch is a joint venture with Merrill Lynch & Co, the leading international capital raising, financial management and advisory company. Merrill Lynch has a 40 per cent equity ownership in DSPML.