By Brian Blackstone

ZURICH--Credit Suisse Group AG (CSGN.EB) swung to a wide loss the previous quarter due to a hefty settlement the Swiss banking giant agreed to pay to resolve crisis-era mortgage securities cases.

Credit Suisse said Tuesday that its net loss was 2.3 billion Swiss franc ($2.3 billion), versus expectations of a CHF2.04 billion loss according to a consensus of analyst estimates compiled by the bank.

During the same quarter of 2015, Credit Suisse posted a heftier loss of CHF5.8 billion due to restructuring costs associated with its pullback from investment banking. Its net profit for the third quarter of 2016 was CHF41 million.

It posted revenues of CHF5.4 billion for the fourth quarter, compared with CHF4.3 billion a year earlier.

Write to Brian Blackstone at brian.blackstone@wsj.com

(END) Dow Jones Newswires

February 14, 2017 01:37 ET (06:37 GMT)

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