Swiss lender Credit Suisse has finally shut down its legacy loans unit after booking a $1.3bn loss from the division last year.
It said the Strategic Resolution Unit (SRU) was successfully closed, "outperforming end-state targets."
The SRU was shut down on schedule at the end of the year.
Its loss was down from $3bn in 2017.
The residual SRU portfolio has been transferred to the Asset Resolution Unit (ARU).
This is expected to have a pre-tax profit drag of $0.5bn in 2019.
In 2017, the bank announced it was bringing forward the winding up of its legacy loans division by a year.
The provision for credit losses across the group last year was CHF 245m ($243m), up from CHF 210m in 2017.
CEO Tidjane Thiam said: "The uncertain political climate in a number of major world economies and the resultant potential disruptions to world trade are clear concerns.
"With our lower cost base, the reduction of our risk profile, our flexible and diversified model and the benefits flowing from the closure of our Strategic Resolution Unit, we expect to remain resilient in the face of downside risks, and believe we are well positioned to take advantage of any potential upside."
Net income attributable to shareholders was CHF 2.1bn, its first annual profit since 2014 Revenue was stable at CHF 20.92bn.
