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Credit Suisse posts Q4 profit loss, 22% annual fall on back of legal troubles

ZURICH, Feb 18 (Reuters) - Credit Suisse on Thursday posted a 22% fall in 2020 net profit as a 757 million franc hit from legal charges placed Switzerland’s second-largest lender in the red for the final three months of the year.

The bank posted a 353 million Swiss franc ($392.79 million) net loss for the fourth-quarter, compared with expectations for a 566 million franc loss in its own poll of 18 analysts.

The poll was compiled before the bank settled a legacy residential mortgage-backed security case for $80 million less than it had previously flagged. ($1 = 0.8987 Swiss francs) (Reporting by Brenna Hughes Neghaiwi; Editing by Christopher Cushing)

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