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Credit Suisse Posts First Loss in Three Years on Revamp

Credit Suisse Group AG, the second-biggest Swiss bank, said it had a loss in the fourth quarter for the first time since 2008, hurt by “adverse” markets and costs to reorganize the investment bank.

Credit Suisse fell the most in five weeks in Zurich trading after posting a net loss of 637 million Swiss francs ($698 million), compared with an 841 million-franc profit in the year-earlier period. That missed the 446 million-franc average profit estimate of nine analysts surveyed by Bloomberg.