"Banking Sector Braces for Prolonged Real Estate Crisis Impact"
TL;DR
Deutsche Pfandbriefbank, a German lender focused on real estate, has increased its provisions for losses on loans in anticipation of the worst decline in commercial property values in 15 years, setting aside as much as €215 million for the year due to the persistent weakness of real estate markets. This comes amid concerns about mounting losses on lending to the troubled commercial property sector, with banks in various countries reporting significant losses and setting aside large amounts to absorb potential defaults on commercial real estate loans.
Topics:businessfinance#bad-loans#commercial-property#finance#financial-turmoil#german-bank#real-estate-crisis
- German bank braces for wave of bad loans in ‘greatest real estate crisis since the financial crisis’ CNN
- 'A problem we'll be working on for years': Fed chair Jerome Powell says commercial real estate's impact on banking has just begun Fortune
- Banks Face a Growing Real Estate Crisis The New York Times
- US regional lenders' commercial real estate exposure in spotlight after carnage Reuters
- Janet Yellen voices commercial real estate woes to Congress Yahoo Finance
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