LONDON– Credit Suisse swung to a better-than-expected loss in the fourth quarter of 2020, on the back of greater provisions for legal disputes.The Swiss bank reported Thursday a net loss of 353 million Swiss francs ($392.8 million) for the 4th quarter of 2020. Credit Suisse ended 2020 with a net income of 2.7 billion Swiss francs.The Swiss bank had informed the markets in January that it would be sinking to a higher-than-expected loss in the last quarter of 2020 after setting aside $850 million for a legal disagreement over property debt in the United States. “We had an excellent start, all five departments are up,” Gottstein said.Other highlights for the quarter: CET 1 ratio, a measure of bank solvency, reached 12.9% from 12.7% a year ago.Revenues stood at 5.2 billion Swiss francs, from 6.2 billion Swiss francs a year ago.Total operating expenditures were 5.2 billion Swiss francs, versus 4.8 billion at the end of 2019.

By