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Credit Suisse not bucking to subprime
The headline of yet another bank writing down billions of additional dollars has become all too familiar. This morning, one bank is bucking that trend. Credit Suisse reduced its full-year writedowns today to just under $2 billion. It's one of the few banks to avoid heavy subprime losses.
It's rival, UBS, has taken charges of more than $18 billion. Credit Suisse isn't perfect though -- the bank also reported a 49 percent fall in fourth-quarter net profit.
Posted on February 12, 2008 6:07 AM PT | Permalink
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