04.02.2016 - Credit Suisse's revenue fell by more than a third
Credit Suisse reported a significant loss for the 4th quarter of last year. Swiss bank wrote down the cost of acquisition of troubled US assets and stated about restructuring that will helpto reduce dependence on investment banking. As a result, the net loss for the period totaled 5.83 billion Swiss francs against a profit of 691 million Swiss francs in the same period in 2014. Net sales decreased by 34% to 4.2 billion francs. The bank also announced plans to cut 4,000 jobs. We forecast a drop in the bank's quotation in the near future by 20-25%.