Credit Suisse boosts asset cuts amid concerns over capital

Zurich

CREDIT Suisse Group, under pressure to boost capital, increased its planned asset reductions and proposed a dividend payable either in shares or cash.

Switzerland's second-biggest bank on Thursday posted fourth-quarter net income that amounted to 921 million francs (S$1.34 billion), compared with a 476 million franc loss in the year-earlier period. The lender cut bonuses for the group and the executive board.