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...Many of the businesses now underwrite their own debt deals, lending either directly to companies or against a host of assets....
...BlackRock bought US credit firm Tennenbaum Capital Partners in 2018 to boost its lending business in the US....
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...One adviser to Barings said its lending team had considered spinning the business out, having seen peers make similar moves....
...Emirati banks have traditionally shied away from lending to small businesses, according to Jorge Camarate, a Dubai-based partner at Strategy& who heads the consultancy’s financial services division in the...
...From Bloomberg overnight: Citi Is in Talks to Start New Private Credit Strategy by Early 2024 Citigroup Inc. is in discussions to start a new direct-lending strategy by early January, the latest in a series...
...And if Micro Connect’s financing were to be reclassified as lending, he would face caps on how much money stores could repay. Sceptics have compared his model to outlawed peer-to-peer lending....
...Chang’s and business technology provider Computer Services Inc....
...The US’s key lending rate, Sofr, touched 5.3 per cent last month, the highest level since its predecessor, Libor, soared before the financial crisis....
...Of course, there is customer service and access. But even those face tests....
...However, the growth of private credit is in large part supposed to be driven by the retreat of banks from commercial lending — “debanking”, as Rowan calls the trend....
...The business would expand Citi’s business in China, which already includes corporate lending and other banking services....
...A version of this article was first published on November 1 by Nikkei Asia. ©2023 Nikkei Inc....
...Bank bosses should only feel worried when alternative asset managers are regularly lending billions for general corporate purposes....
...The executives were speaking after their banks reported fourth-quarter earnings that showed that their lending businesses had benefited significantly from higher interest rates....
...That appetite is beginning to return as banks look to bolster relatively modest advisory and lending revenues, and as they grow more confident that companies and private equity groups will be able to weather...
...Private credit and leveraged lending markets remain vulnerable to “sharp revaluations”, the Bank of England has warned, in its latest attempt to sound alarm bells about risks building up in non-bank finance...
...Revenues from corporate lending dropped 26 per cent, however, as higher interest rates dented demand for borrowing. A drop in market volatility at the end of the year also hurt the bank’s traders....
...All five of Citi’s core businesses — corporate lending; credit cards and US consumer banking; transaction services; buying and selling stocks and bonds; and private banking — posted rising sales....
...Last year, Citi launched Wall Street’s first financial institutions advisory group focused on minority-owned banks, which offers them services such as bond underwriting and mergers and acquisitions advice...
...You, a rube like Alphaville, may have noticed the looming economic downturn and think it’s a bad time to be lending to fast-growing but asset-lite Vapourware Inc owned by investment firms FaceRip Street...
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...Investment managers such as Blackstone have flagged a “golden moment” for private credit in recent months, including in the US as regional banks pull back on some of their lending....
...Tether, the world’s biggest stablecoin issuer, resumed lending out its coins to customers, less than a year after it said it would cease the controversial practice....
...We have a 70 per cent service-sector economy. Historically, there’s only been 13 quarters of negative growth in 100 years of the service sector....
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