Credit Suisse has emerged as one of the two banks working on Barclays' £7bn (€8.9bn) capital increase, having also advised the UK Government on the implementation of its £37bn bailout for the British banking sector.

The bank, alongside JP Morgan Cazenove, advised Barclays, which today managed to skirt the need to ask for UK Government funds after Middle Eastern investors pledged to invest nearly £6bn in the bank, leaving it free to pay dividends to shareholders and avoid scrutiny of its staff compensation.