Credit Suisse today stepped up its campaign to slash costs and risk-weighted assets as chief executive Brady Dougan lamented the “unfair playing field” of Basel regulations.

The Swiss bank, which this morning reported a 154% year-on-year rise in fourth-quarter revenues at its investment banking division, said it is targeting Sfr3.2bn in cost savings this year - up from a Sfr3bn target it had set late last year - after achieving Sfr2bn in cost savings across the group last year.