- July 27, 2021
- Posted by: Stratford Team
- Category: Business
The headquarters of Swiss bank Credit Suisse are seen at the Paradeplatz square in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann
ZURICH, July 21 (Reuters) – When Credit Suisse (CSGN.S) reports earnings on Thursday, investors will get an insight into how aftershocks from the Archegos and Greensill scandals are being felt across its investment bank just as its rivals are flourishing.
Credit Suisse’s flagship wealth business is expected to ride the wave of frothy markets that has helped private bankers generate higher earnings off the rich.
But analysts expect a nearly $600 million hole caused by more losses on stricken fund Archegos and further weakness in its trading and advisory businesses to bring second-quarter net profit down to a quarter of its value a year ago.
That will mark a painful slide when competitors have felt the benefits of an economic recovery and a jump in dealmaking.
Switzerland’s second-biggest bank has cut risk after its…
