Credit Suisse looks to lure Greek shipowners

The leap in assets at Credit Suisse's private bank to a record high this year has been aided by a key plank of the bank's new strategy: lending money to the world's ultra-wealthy. Switzerland's second-biggest bank is trying to lure more rich customers by helping them fund their businesses and lifestyles, with shipping, aviation and real estate loans a central focus. 

"From the bank's point of view, the deposits and private wealth product is the juice; the value to the bank has to be strong enough to consider making risky loans," said Basil Karatzas of New York-based shipping finance advisory firm Karatzas Marine Advisors. Finance sources estimated Credit Suisse's exposure in shipping alone was at least $12 billion.

Experts say Credit Suisse's new tack of lending via its private bank has helped it make significant inroads with Greek shipping magnates - among the richest...