Credit Suisse Posts Record $7.1 Billion Loss

03/14/2009 05:12 am ET | Updated May 25, 2011

ZURICH (Reuters) - Credit Suisse Group AG (CSGN.VX) posted its biggest-ever annual loss after a poor fourth quarter hit by trading losses and restructuring charges, but expressed cautious optimism for 2009 even as it cut some financial targets.

Switzerland's second-largest bank unveiled an annual net loss of 8.2 billion francs ($7.1 billion), worse than the average analyst forecast of 6.3 billion from a Reuters poll but in line with predictions from some Swiss newspapers and less than half the loss posted by UBS.

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