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REFILE-Credit Suisse on the prowl for buys-paper

Published 12/12/2010, 04:33 AM

(Refiles to fix headline)

* Private bank looking for buys in Switzerland and abroad

* CS private bank sees 6 pct net new money growth-paper

ZURICH, Dec 12 (Reuters) - Credit Suisse , Switzerland's second-largest bank, is looking for acquisitions to strengthen its private banking business, unit head Walter Berchtold was quoted as saying on Sunday.

"In Switzerland the prices for smaller private banks are back on a reasonable level. In growth markets abroad acquisitions can help us reach a certain size more quickly," Berchtold told Swiss newspaper Sonntagszeitung.

He also said the bank was looking for opportunities in all markets where it was doing business at the moment.

Earnings at Credit Suisse's private bank outstripped the normally more lucrative investment banking segment during the third quarter and the bank's Chief Executive Brady Dougan said in October he saw very attractive growth prospects for the private bank. [ID:nLDE69K03R]

Berchtold said in the interview that he was confident net new money at the private bank would grow by 6 percent. (Reporting by Silke Koltrowitz; Editing by Alex Richardson)

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