By Thomas Atkins

GENEVA (Reuters) - The chief executive of Credit Suisse (CSGN.VX: Quote, Profile, Research) warned on Friday of short-term dangers ahead in financial markets but said he was optimistic about his own bank's outlook.

In the text of a speech, Brady Dougan said he hoped the end of the crisis was in sight but his instinct was to remain cautious.

"I am extremely optimistic about the opportunities ahead of Credit Suisse, even as I remain very cautious about the short-term environment," Dougan said.

"Whenever there seems to be light at the end of the tunnel, it has turned out to be another train coming at us," he said. "My inclination is to remain cautious."

Shares in Credit Suisse -- which closed down 1.1 percent at 56.55 francs -- and UBS AG (UBSN.VX: Quote, Profile, Research) have been helped this week by more stability on the Swiss blue-chip index .SSMI, which has gained some 170 points since last Friday.

Credit Suisse has posted billions of dollars in losses stemming from the credit crunch triggered by the U.S. subprime loans turmoil and was forced to admit billions more from a trading scandal.

But the group has emerged less damaged from the turmoil than some other globally active investment banks -- such as Bear Stearns (BSC.N: Quote, Profile, Research), sold to JP Morgan (JPM.N: Quote, Profile, Research) under distressed conditions, Citigroup (C.N: Quote, Profile, Research), which has posted more subprime losses than any other bank, and UBS, Europe's hardest-hit bank from the subprime crisis.

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