Credit Suisse Group, Switzerland's second-biggest bank by market value, said today it plans to cut costs further after net profit fell in the third quarter, but it didn't disclose how many jobs will be lost in the process.

Net profit sank 63% to Sfr254m ($273m) in the quarter, down fromSfr 683m a year earlier. Earnings were hit by a Sfr1.05b writedown associated with the increased value of the bank's own debt. Excluding the own-debt charge, Credit Suisse's net profit was Sfr891m. Revenue fell 13% from a year earlier to Sfr5.84bn.