Ashish Gupta, the head of Credit Suisse's equity research in India, has stepped down from the position, CNBC-TV18 reported on November 18. Gupta was also the head of financial coverage for Asia Pacific in the financial services firm.
Gupta's resignation holds significance as he was the first to cover the extent of non-performing assets (NPAs) in Indian banks in the year 2012, the report added.
His “House of Debt" report for Credit Suisse Group AG gave investors an early warning about the dangerous levels of delinquent borrowing by many of India’s top business groups. That, as per the CNBC-TV18 report, helped push policymakers to review banks’ loan books and revise the nation’s official bad-loan ratio from about 3 percent to 9.3 percent, one of the highest in the world.
Last year, in an exclusive interview with the channel, Gupta spoke at length about what the government's initiative to digitise transactions and payments might spell for India’s financial landscape and its banking sector.
“The corporate landscape in India has been changing and all of us are focused on only one part of the landscape, which is the listed universe. We felt there was a lot more activity, value creation, more growth emanating from this universe and much of it is in the private space and that’s what turned our attention to this space," Gupta had then said.
According to his LinkedIn profile, Ashish Gupta completed his MBA in Finance from Narsee Monjee Institute of Management in 1995.
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