Swiss banking giant Credit Suisse has reported a 72% dive in quarterly profits and expects a "challenging environment" in the near future.
Net profit in the three months to the end of December was 1.33bn Swiss francs ($1.21bn, Ј619m), a slightly worse performance than analysts expected.
But the bank said losses on sub-prime investments were 2bn Swiss francs last year, less than it originally expected.
Credit Suisse has been relatively unscathed by the sub-prime crisis.
Swiss rival UBS reported $18.4bn in losses last year on investments related to US sub-prime mortgages, and the problems meant it reported a full-year loss of Picasso art stolen from gallery ...
Sub-prime woes push UBS into red ...
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Stocks tumble on bank downgrade ... 4.4bn Swiss francs.
Credit Suisse said its money management unit was doing well, attracting an extra 12bn Swiss francs in new funds during the fourth quarter.
(BBC)
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