Non-performing loans with the four biggest US banks have risen to $24.4bn in the last quarter of 2023.
Debts at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup where borrowers have not made a payment in at least 90 days are predicted to have ballooned by $6bn since the end of 2022, according to a Bloomberg analysts’ consensus.
Commercial property, and in particular mortgages on less-full office buildings, had been one of the biggest factors pushing up problem debts.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
