"Accordingly, we are well on track to achieve a cost target of 17 billion Swiss francs (13.4 billion pounds) by the end of 2018, which is significantly lower than our original cost target of 18.5 billion Swiss francs," Rohner said in a speech at Credit Suisse's extraordinary general meeting.

Credit Suisse shareholders are voting the board's proposal to raise around 4 billion francs to get its financial strength on a par with rivals.

(Reporting by Joshua Franklin and Oliver Hirt)