Net revenues for the fourth quarter of 2010 were CHF6.96bn compared to CHF6.53bn in the same quarter a year ago.
Net interest income for the fourth quarter of 2010 declined to CHF1.67bn from CHF1.89bn in corresponding quarter of 2009.
Net revenues from Private Banking segment decreased 3% to CHF2.91bn, while Investment Banking revenues were CHF3.47bn, up 14% from last year. Asset Management revenues declined 3% to CHF617m.
Provision for credit losses was CHF23m, down from CHF40m in the year-ago quarter.
Assets under management at the end of the quarter increased 2% to CHF1.25 trillion.
Credit Suisse cut its profitability and dividend target for the full 2010 year as a result. Its dividend is expected to be CHF1.30, down from CHF2 last year.
Credit Suisse CEO Brady Dougan said the moves to cut its return on equity target were a "reflection of the new environment". Credit Suisse also blamed tighter capital regulations for the surprise cuts.
