The management at Credit Suisse faces a "make or break" year in 2013, according to JP Morgan's top European banks analysts, having committed to a Sfr2bn ($2.1bn) cost-cutting plan.

Kian Abouhossein and Amit Ranjan at JP Morgan spoke recently with David Mathers, chief financial office at Credit Suisse, and published a follow-up note on the meeting this week.