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 prime brokerage business lost more than any other competitor from the collapse of family office Archegos, and as its asset management division scrambles to return some $10 billion of client investments linked to insolvent supply chain finance firm Greensill.

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