Bloomberg News reports that Winters, who became CEO on June 10, will probably say on Wednesday that first-half revenue fell 7% to $8.8bn, the average estimate of seven analysts in a Bloomberg survey shows. Loan losses may have jumped 10% to $1.1bn, according to analysts at Barclays.
'We don’t expect the results to be particularly encouraging with revenues likely to still be under pressure, credit quality another area of concern and little capital progression', said Rohith Chandra-Rajan, an analyst at Barclays with an overweight rating on the shares. 'Given our concerns on credit quality, we expect the company to raise capital'.
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