credit suisse bank is in trouble

New Delhi:

The crisis in Credit Suisse will not affect the Indian banking system as it has very little presence in the country.

Experts have claimed this.

The Jeffries India report, however, states that Credit Suisse is more relevant to the Indian financial system than Silicon Valley Bank (SVB).

According to the report, the assets of the Bank of Switzerland are less than Rs 20,000 crore (12th among foreign banks).

This bank is present in the derivatives market and 60 percent of its assets are from loans, out of which 96 percent are for two months only.

Its share in assets is only 0.1 percent, which is very less in terms of banking sector.

Credit Suisse is headquartered in Zurich and has only one branch in India.

Sources said that in the meantime, the Reserve Bank of India (RBI) is constantly monitoring the changing situation due to the closure of some banks.