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...Apollo has sold a stake in the lending business it acquired from Credit Suisse last year shortly before the Swiss bank’s shotgun rescue by UBS, securing a multibillion-dollar investment from one of the US...
...So far, its lending has funded 1,800 homes. It has financed projects including 316 rental homes in Bath and a joint loan with insurance group Generali for 65 homes for sale in Canary Wharf....
...We continue to have low write-off rates, which evidences the prudent nature of our approach to lending. Our confidence in financing this scheme remains very strong.”...
...Many of the businesses now underwrite their own debt deals, lending either directly to companies or against a host of assets....
...New York-based group Apollo on Thursday increased its long-term forecasts for its lending business, telling shareholders it expected to be able to originate more than $200bn a year in new loans, up from...
...Our leveraged loan and CLO business, what we refer to as liquid corporate, is about $100bn, and real estate lending is around $85bn....
...Leverage — funds borrowing more money to make loans — adds risk, too....
...The biggest drop was in credit card lending. Corporate lending was up, even in commercial real estate, which has been an area of concern....
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...The New York-based investment group’s lending ambition is being fuelled by an influx of insurance-related policies it must invest....
...The one-year loan prime rate was left at 3.45 per cent. The five-year equivalent, which underpins mortgage lending, remained at 3.95 per cent....
...Broader securitisation and asset-backed lending have proliferated too....
...But with policymakers expected to cut rates as early as June, some banks have started lowering the cost of mortgages and other loans....
...Latin America’s biggest development bank plans to increase lending by about $112bn over the next decade, pushing up annual loans by almost half following an increase to its firepower and internal reforms...
...“bad banks”, but were then able to restart lending to new assets fairly quickly, said Nicole Lux, senior research fellow at Bayes and the report’s author....
...UBS has agreed to sell $8bn worth of loans to private capital group Apollo as part of a renegotiated deal to hive off a Credit Suisse business that securitised loans for assets such as yachts....
...Five unmissable stories this week With lowly rated, highly leveraged companies under pressure from high interest rates, and loan recoveries falling, traditional asset managers such as Invesco are now using...
...A turn in the credit cycle could mean a new flow of non-performing loans, with some signs of weakness in jobs markets and strains in unsecured lending....
...The bank’s common equity tier one ratio — a key benchmark of its balance sheet strength — stood at 19.4 per cent of risk-weighted assets by the end of last year, 0.1 percentage points higher than a year...
...Certain areas of lending where the regional banks used to be active — asset-backed finance, some types of small business financing, consumer lending — they’re no longer active in....
...But with the crisis lasting longer than expected, loan yields have started to fall and profit growth has slowed, even with total assets at local lenders increasing by a tenth last year....
...The one-year LPR, which is tied to business loans, remained steady at 3.45 per cent....
...The announcement marks the largest cut to the five-year lending rate since it was introduced in 2019....
...The bank’s retail lending arm provides loans for Spire Healthcare and Circle Health Group, two of the UK’s largest hospital groups....
...However, critics argue that trading private loans could upend the basis of the asset class by reducing yield from the illiquidity premium and eliminate the volatility shield through price discovery....
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