Credit Suisse posts US$5.2b loss

2009-02-12 Beijing

Credit Suisse posted net losses of US$5.2 billion for the fourth quarter of 2008, increasing its full-year losses to a record US$71 billion. The losses were mainly attributable to the company’s transaction business with lower performance as well as huge costs associated with corporate restructuring. The lender, however, said the company saw strong growth momentum with abundant capital at the beginning of 2009 and that all of its businesses have been making profits since early this year.