Credit Suisse Swings To Q4 Profit

Credit Suisse AG

posted a profit in the fourth quarter. Credit Suisse posted a quarterly net profit of CHF397 million, versus a year-ago net loss. Its revenue climbed 29% to CHF5.8 billion. Credit Suisse raised its cost savings forecast to CHF4.4 billion, versus its earlier view of CHF4 billion by 2015. Credit Suisse shares closed at $29.55 yesterday.