2/18, 7:03 AM (Source: TeleTrader)
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Credit Suisse posts Q4 net loss of 353M Swiss francs

Credit Suisse Group AG announced on Thursday its net loss in the fourth quarter of 2020 was 353 million Swiss francs.

The reported pre-tax loss for the quarter was 88 million Swiss francs while the net revenues stood at 5.2 billion Swiss francs. Reported pre-tax income stood at 3.5 billion.

"The steady execution of the strategic initiatives we announced last July supports our growth agenda and allows for further investment in our businesses. Looking forward into 2021 and beyond, we aim to further accelerate growth in Wealth Management and deliver sustainable returns in Investment Banking," Chief Executive Officer Thomas Gottstein said.

Breaking the News / TF