After Qatar announced through its Prime Minister Sheikh Hamad bin Jassim bin Jabr al-Thani it bought Credit Suisse shares, the financial services company, headquartered in Zürich, Switzerland, said Tuesday it has estimated its assets at a sum $2.85 billion lower than previously calculated.

According to the Group statement, the internal review made by the Swiss bank found out that some of assets were overpriced by traders. The traders linked to the overvaluation of assets were suspended, the bank said.

The revaluation process will damage the net profit with about $1 billion on the company's balance sheet. The bank’s statement also said Credit Suisse expects it will remain profitable in the current quarter.

Credit Suisse, the second-largest Swiss bank, behind UBS AG, said that a “handful” of traders are currently investigated about the overvaluation of asset-backed securities on the bank’s balance sheet.

"I can't tell you exactly how many, but a small number," Credit Suisse spokesman Marc Dosch told The Associated Press.

The bank’s shares dropped Tuesday after the misevaluation and its effects in the quarterly net profit were announced.  This is the biggest share decline in more than five years.

Last week, Credit Suisse announced a $1.88 billion write down for sub prime-related assets, but despite this the company posted a fourth-quarter net profit of $1.2 billion.

The company’s shares fell about 10 percent to 4.40 francs, or 7.7 percent, to 52.35 francs by 1:15 p.m. in Swiss trading. The drop cut the company's market value to 60.8 billion francs.

UBS AG, the biggest Swiss bank, dropped 0.8 percent.