Credit Suisse is planning to make acquisitions in the US and Germany according to Walter Berchtold, chief executive of the bank's private banking unit who was quoted in Swiss newspaper Handelszeitung. "We're looking at acquisitions (in the US), but they must make sense from a strategic point of view ... that is why we will not buy a brokerage in the US," he said. He also said that the Swiss bank might buy a rival wealth manager in Germany, but that it would not make a major acquisition in the country. Mr Berchtold also told Handelszeitung that net new money inflows had grown at an annualised rate of 8.9 per cent in the first half of the year and that Credit Suisse was well under way to meet its targeted growth rate of 6 per cent and net profit goal of SFr8.2 ($6.60 billion) for the full year. Credit Suisse will use the proceeds of the sale of its insurance unit Winterthur for investments in organic growth or for acquisitions, said Mr Berchtold.