11,858,200,000 dollars of later loans hit JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and Goldman Sachs as sour debts: Report
The largest banks in America face an increase in late loans, according to a new report.
The cases of commercial and industrial loans of American banks jumped in the fourth quarter of 2024, while the total value of the loans decreased. Reports S & P Global.
The later C & I loans increased by approximately 6.4 % over the previous quarter and 19.8 % on an annual basis, reaching $ 31.04 billion – with delinquency by 1.31 %.
This represents a significant increase in sour loans, with two main players such as JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and Goldman Sachs collectively with 11.8582 billion dollars of late C & I loans.
The total C & I loan in American banks decreased by 5.2 % over a quarter and 4.3 % on an annual basis to 2.371 trillion dollars, partly due to the changing classification except for C & I.
Despite the decrease in total loans, the rise in the wounds indicates increasing tension in the commercial sector, and the executive managers in the banks pointed to the request for silent lending and cautious borrower’s behavior.
JPMorgan Chase Jennifer Piepszak says many of the last activity have been re -funded instead of the growth of new loans, which attributes it to the “waiting and retreat” approach.
Meanwhile, John Stern, USA, Pancorp, notes to “grow pockets” in lending to companies and the Mediterranean market, but stressed that growth is still inconsistent, with the possibility of more economic clarity in the second half of the year.
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