Credit Suisse Group's (CS) private banking head Tuesday said the bank continues to look at potential private banking deals.

"Clearly, we are out there," Walter Berchtold told investors at an event in Zurich.

Berchtold runs the Zurich-based firm's private bank, which provides financial services for wealthy individuals.

Acquisitions would have to fit Credit Suisse's compliance standards and make financial sense, Berchtold said.

Berchtold declined to comment on reports that Credit Suisse dropped out of an auction for ING Groep NV's (ING) Swiss and Asian private-banking assets.

Company Web site: www.creditsuisse.com

-By Katharina Bart, Dow Jones Newswires; +41 43 443 8043; katharina.bart@dowjones.com