Credit Suisse reports loss for fifth straight quarter, shares slump 10%

While withdrawals were concentrated in a hectic two-week period in October, the full scale of the exodus - 110.5 billion francs - still surprised analysts

Credit Suisse Group AG posted a bigger-than-expected loss for the fourth quarter and unprecedented client outflows, exacerbating the difficulty for Chief Executive Officer Ulrich Koerner in returning to profitability by next year.  

Shares in the Swiss bank slid 10% on Thursday after it posted a fifth-straight quarterly loss, of 1.39 billion Swiss francs ($1.5 billion). While outflows were concentrated in a hectic two-week period in October, the full scale of the exodus — 110.5 billion francs — still surprised analysts.

Koerner’s pledge to stem the decline hinges on a massive client outreach program to woo nervous clients and their cash