GO
Loading...

Enter multiple symbols separated by commas

Credit Suisse Lifts Cost-Cutting Goal After Swings to Fourth-Quarter Profit

Credit Suisse CEO: More Tough Times Ahead for Financials
Chris Ratcliffe | Bloomberg | Getty Images

Credit Suisse said on Thursday it will cut more costs than expected, after swinging to a lower-than-expected fourth-quarter net profit.

The Zurich-based bank said it will slash spending by 4.4 billion Swiss francs ($4.83 billion) by the end of 2015, up from a previously-announced 4 billion.

Fourth-quarter net profit of 397 million francs missed analyst forecasts, which averaged 645 million francs in a Reuters poll.

(Read More: Credit Suisse Could Owe $2 Billion Over Fraud)

Banks

  • Where to find value? Stocks vs. bonds

    Rich Pzena, Pzena Investment Management, weighs in on whether the bull run is over as rates rise on the 10-year. And the FMHR provide their play on bonds.

  • Invest in US-centric stocks?

    The FMHR crew weighs in on whether now's the time to seek returns overseas. And Rich Pzena, Pzena Investment Management, shares his play on bank stocks as interest rates rise.

  • Wells Fargo

    The lawsuit alleges that employees misused customers' confidential information, according to the paper.