Credit Suisse Group AG (NYSE:
CS) swung to a loss in the fourth quarter.
Credit Suisse posted a quarterly net loss of 637 million Swiss francs ($697 million), or a loss of 0.62 franc a share, versus a year-ago profit of CHF841 million, or 0.59 franc a share. Its net revenue dropped 38% to CHF4.49 billion, from CHF7.27 billion in the year-earlier period.
Credit Suisse shares fell 1.85% to $27.13 in pre-market trading.
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