Credit Suisse fourth quarter losses much bigger than expected

http://www.guardian.co.uk

Credit Suisse fourth quarter losses much bigger than expected

SFr637m (£442m) loss compares with the SFr841m profit that the bank posted in the fourth quarter a year agoCredit Suisse Group has announced its first fourth-quarter net loss since 2008, posting negative returns of SFr637m (£442m) that were far below what analysts had expected. Analysts’ consensus estimates were for the Zurich-based bank to post a fourth-quarter profit for 2011 of SFr431m.