CS » Topics » Update on Credit Suisses fourth-quarter 2008 performance

This excerpt taken from the CS 6-K filed Dec 4, 2008.

Update on Credit Suisse’s fourth-quarter 2008 performance

Based on preliminary information on its operating performance, Credit Suisse estimates that it had a net loss of approximately CHF 3 billion in the fourth quarter as of end-November. Investment Banking had a significant pre-tax loss, reflecting the challenging conditions in the financial markets in the quarter and costs associated with risk reduction. Credit Suisse had a modest net profit in November. The Private Banking division continues to perform well and attracted solid asset inflows in the fourth quarter as of end-November. Credit Suisse has maintained its strong capital base and expects to have a tier 1 ratio of around 13% at year-end. The bank’s deposit base and funding remain very solid.

 

These results are preliminary and are subject to a number of adjustments, contingencies and review processes.

 

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