Credit Suisse, Switzerland's second-biggest bank, said Tuesday its net loss had narrowed to 2.4 billion Swiss francs (2.2 billion euros, $2.3 billion) in 2016 against 2.9 million a year earlier.

"We have significantly reduced our fixed operating cost base and increased our operating leverage. We have generated industry-leading net inflows at higher margins," said CEO Tidjane Thiam.