September 14, 2013 / 1:45 PM / 5 years ago

Credit Suisse wants to sell its German private clients unit: paper

FRANKFURT (Reuters) - Credit Suisse CSGN.VX wants to sell the private clients business of its German unit Credit Suisse Deutschland AG, German weekly WirtschaftsWoche reported on Saturday, citing financial sources.

It said interested parties may submit their bids by the end of September.

France’s BNP Paribas (BNPP.PA) and Spain’s Santander (SAN.MC) are among those interested in buying the business, it said, adding the spokesmen of the two banks declined comment.

A spokeswoman from Credit Suisse declined comment to Reuters.

In June, a source close to Credit Suisse told Reuters it may sell part of its private bank in Germany, part of efforts to improve profits by focusing on the mega-rich rather than a larger ‘mass affluent’ client base.

Reporting by Marilyn Gerlach; additional reporting by Caroline Copley in Zurich; editing by James Jukwey

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