ZURICH, March 10 (Reuters) - Credit Suisse had net credit exposure to Russia totalling 848 million Swiss francs ($914 million) and 195 million of net assets held in Russian subsidiaries, the Swiss bank's 2021 annual report showed on Thursday.

"In purely financial terms, we have reviewed our positions and believe that the bank’s exposure in relation to Russia is well-managed, with appropriate systems in place to address associated risks," the bank said in a statement.

Italy's UniCredit and France's BNP Paribas were the latest banks to set out their Russian exposures, warning of billions of euros in potential costs from the financial fallout from Moscow's invasion of Ukraine.

Rival UBS's direct exposure to Russia made up $634 million of the Swiss bank's total emerging market exposure of $20.9 billion at the end of 2021, the bank said in its annual report on Monday.

($1 = 0.9278 Swiss francs) (Reporting by Michael Shields and Emma Thomasson)