Deutsche Bank's US Commercial Property Loans Are a Growing Drag on Its Profits [BNN Bloomberg (Canada)]
New York Community Bancorp, Inc. (NYCB)
Last new york community bancorp, inc. earnings: 4/29 07:00 am
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Source: BNN Bloomberg
Credit provisions for the asset class rose to a peak for data going back to 2022, almost doubling from a year earlier, according to an investor presentation published Thursday. While Deutsche Bank is “seeing some stabilization” in the broader US commercial real estate market, the office part of that will likely “continue to be impacted” for the rest of the year, Chief Financial Officer James von Moltke said on a call with fixed-income investors on the same day. The remarks highlight how Deutsche Bank's unique position as one of the biggest European lenders to developers of US commercial real estate — and offices in particular — will continue to be a sore point for investors. Even though its US CRE exposure accounts for only about 3% of its total loan book, it was the source for more than a quarter of the bank's credit provisions in the last three-months period. The average loan-to-value in its US office loan segment remained at 81% as of end-June, the bank said. That compares wit
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NYCB
Earnings
- 7/25/24 - Miss
NYCB
Sec Filings
- 9/4/24 - Form 8-K
- 8/23/24 - Form S-1/A
- 8/13/24 - Form SC
- NYCB's page on the SEC website