Credit Suisse and Silicon Valley Bank are two international financial companies providing global solutions. This article gives you insights into both investment companies. Read ahead!
Credit Suisse
Founded in 1856 and headquartered in Zurich, Switzerland, Credit Suisse has operations in over 50 countries. The company primarily focuses on providing investment to entrepreneurs entrepreneur, individuals and corporates. They strive to strengthen and simplify the integrated model and invest in sustainable growth while providing an edge to risk management. Credit Suisse promote sustainable growth and economic profit with the global business and regional structure. It serves its clients in four divisions, including Wealth Management, Investment Bank, Swiss Bank and Asset Management, in four different regions: Switzerland, EMEA, APAC and America.
Silicon Valley Bank
Unfortunately, Silicon Valley Bank came to closure on Friday last week due to bankruptcy. It was one of the most potent powerful banks that used to help investors with financial investments across different stages, sectors and regions. Along with this, they helped investors with strategic advice to help turn their big business ideas into reality. It was the 16th largest bank in the United States and was the largest bank by deposits in Silicon Valley. The bank has been a crucial lender to many startups since 1980 and closed due to the massive loss in the market.
Impacts On India
Talking about its impact on Indian investing institutions, several Indian startups and SaaS companies suffered huge losses since they invested a considerable amount in the bank. Mobile company Nazara Technologies, with two of their subsidiaries, together have more than $7.75 million in balances at the failed bank.
On the other hand, Credit Suisse has good scores in the Indian financial market. It has approximately Rs. 20700 crores in total assets in India as of March 2022. However, it has the only brand in India which accounts for a 1.5% market share among all foreign bank’s total assets and represents 0.1% of assets of the overall banking sector.
With the current meltdown of Silicon Valley Bank, Credit Suisse has become India’s 12th largest foreign bank.
