Japanese Bank Aozora Issues Warning and Cuts US Office Building Loans
TL;DR Summary
Aozora Bank cuts the value of its U.S. office loans by over 50% due to adverse conditions in the market, while New York Community Bancorp's stock plummets after a surprise loss and dividend cut. Deutsche Bank also increases provisions for commercial real estate, particularly in the U.S. office sector, as the bank warns of potential credit-loss provisions in 2024. BNP Paribas shares also slump as the French banking giant cuts its longer-term profit forecast.
Topics:business#aozora-bank#deutsche-bank#finance#new-york-community-bancorp#profit-warning#us-office-loans
- Not just NYCB: Japanese bank issues warning on U.S. offices, cutting some Chicago loans by 63%. MarketWatch
- New York Community Bancorp Isn't the Only Bank Warning About U.S. Office Loans Barron's
- Losses on US Commercial Property Loans Hammer Japanese Bank Aozora Bloomberg
- Japanese bank tanks over 20% after flagging losses tied to U.S. commercial property CNBC
- US office building losses hit Japanese lender Aozora Financial Times
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
2 min
vs 3 min read
Condensed
84%
477 → 74 words
Want the full story? Read the original article
Read on MarketWatch