Hints and tips:
...Citi analysts say that logistics, self-storage and some residential assets should fare better than traditional office space. “A lot of funds and investors are very hungry for deals . . ....
...Of its €114bn of residential loans outstanding, 73 per cent were variable rate loans at the end of last year, according to the Spanish Mortgage Association....
...Citi sees a risk that volumes drop by a quarter to a third, with a knock-on effect for overall sentiment....
...“These are rates that I think are likely to be much more of a headwind and indeed we’re seeing the housing market slow,” says Nathan Sheets, chief economist at US bank Citi....
...The sell-off has seen it leave markets including Mexico and Australia, where NAB picked up Citi’s residential Aussie business for A$1.2bn in June....
...A new hub in Málaga which Citi hopes will boost morale in a more cost-effective way....
...It also has a residential area that covers 66m square feet, which includes homes and schools....
...DD agrees that it may be more realistic for Citi to climb at its own pace rather than risk falling in a frantic race to the top....
...Prices of newly constructed residential buildings in Wuhan have risen 6 per cent in the past year....
...Just over a year later, Citi needed to be bailed out....
...Other initiatives include a recently confirmed plan to become a big residential landlord. Lloyds’ positive results were echoed at several smaller banks on Thursday....
...“Lending can often be a door-opener,” says Boulton....
...Analysts at Citi said the trading update was “encouraging” and upgraded their forecasts for 2021 profits by 10 per cent to £669m....
...(Billy Nauman) Citi launches silo-busting ESG unit Citi has established a new internal group that will lead its sustainability efforts across its global banking, capital markets and advisory divisions....
...Emulated by peers including Blackstone and KKR, Apollo’s $200bn credit portfolio is among the slickest operators in America’s “shadow banking” industry, churning out everything from residential mortgages...
...In Europe, Sifted reports peer-to-peer lending platforms, which allow ordinary people to lend to small companies, may see them start to default in droves. 3....
...Thousands of records appear incomplete or contain data that is either dubious or reflects lending that is inconsistent with the scheme’s rules....
...“This was probably the biggest risk facing the Spanish banking sector,” said Stefan Nedialkov at Citi....
...Of more importance are the exceptionals, including a £34m portfolio impairment charge that bakes in anticipated price falls of 7.5 per cent for residential and 32 per cent for commercial....
...For instance, earlier this month, the Dutch central bank announced that it would make banks hold additional capital against residential mortgages, increasing their requirements by about €3bn....
...They can also be easily compared across different borders, lending themselves naturally to cross-border approaches to problems or policy, as with banking regulation....
...“When this happens, banks are lending less, which is in effect a credit tightening . . . this means developers have to price their projects competitively to sell.”...
...Citi described the sale as a significant milestone in its simplification of the bank, as it tried to demonstrate to regulators that it had a strong enough grip over its sprawling operations....
...Last week Goldman Sachs outlined various measures to pep up revenues, including a big effort to boost lending via Marcus, the consumer-focused venture it launched about a year ago....
...The instruments, regarded as ultra-safe, are issued by banks to investors to fund mortgage lending....
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