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Credit Suisse Q4 net loss 2.35 bln Sfr; to cut 5,500 jobs
February 14, 2017 / 6:28 AM / in 10 months

Credit Suisse Q4 net loss 2.35 bln Sfr; to cut 5,500 jobs

ZURICH, Feb 14 (Reuters) - Credit Suisse on Tuesday posted a 2.35 billion Swiss franc ($2.34 billion) net loss for the fourth quarter on the back of a U.S. legal settlement, and said it will cut its headcount further in 2017 by a net 5,500 jobs.

The average estimate in a Reuters poll of seven analysts was for a net loss of 2.013 billion francs in the quarter.

For 2016, Switzerland’s second-biggest bank posted a net loss of 2.44 billion francs following a 2.94 billion franc loss in 2015.

Nevertheless, Credit Suisse proposed a dividend of 0.70 francs per share, in line with market expectations.

$1 = 1.0039 Swiss francs Reporting by Joshua Franklin; Editing by Michael Shields

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