Credit Suisse may be considering a sale of part of its wealth management business in Germany, according to Bloomberg, which cited three unnamed sources in reference to the news.

Bloomberg reports that the Swiss bank has been making plans to improve profitability in the European market, as well as highlighting a focus on its ultra high net worth clients, prompting a possible sale of the remainder of its German business in order to achieve such goals.

The firm declined to comment when contacted by this publication.

Last month, Credit Suisse purchased Morgan Stanley’s wealth management arm in Europe, the Middle East and Africa, acquiring $13 billion in assets. On the other hand, in October last year, Switzerland's Falcon Private Bank bought Clariden Leu (Europe) from Credit Suisse. (To view that story, click here.)