Credit Suisse more relevant to Indian banking sector than SVB: Jefferies

Credit Suisse owns more than 200 billion rupees ($2.4 billion) of assets in India, making it the 12th largest offshore lender, according to Jefferies

The fate of European lender Credit Suisse Group AG is of greater importance to the Indian banking sector than the collapse of Silicon Valley Bank, according to Jefferies India.
 

"Given the relevance of Credit Suisse to India's banking sector, we see softer adjustments in assessment of counter-party risks, especially in the derivative market," analyst Prakhar Sharma writes in a note.

As the bank "has a major presence in India’s derivatives market," Sharma is watching for any liquidity issues or counter-party risks that may result from the fallout. Overseas banks in India have 4 per cent to 6 per cent of