22 jun: Fredagens aktier: Stille og svag negativ slutning på ugen
25 jun: USA/t-bond: Nyt europres giver lille rentefald
22-06-2012 20:25:00

Citigroup To Buy Loans From Societe Generale

Relateret indhold

Citigroup Inc. (C) is buying a portion of Societe Generale SA's (SCGLY, GLE.FR) portfolio of shipping loans, joining the group of U.S. banks buying businesses and assets from shrinking European banks.

The two banks said they won't disclose the terms of the deal, and a short statement from Citi only said the two "are committed to working in a coordinated manner in order to make the transition as timely and efficient as possible for the borrowers."

A person familiar with the matter said Citi paid $1.3 billion for the loans.

The sale was earlier reported by Reuters.

Many U.S. bankers have said they're interested in buying assets and businesses European banks are trying to shed in their effort to built capital. While some bankers simply take advantage of better loan pricing as European banks stop competing for borrowers in the U.S., others, particularly Wells Fargo & Co. (WFC), have been aggressively buying portfolios.

Competition was strong from U.S. banks for Royal Bank of Scotland Plc's (RBS, RBS.LN) aviation-leasing business, which eventually went to Sumitomo Mitsui Financial Group Inc. (SMFG, 8613.TO).

Earlier this week, Eurohypo AG sold $760 million in commercial real estate loans in major markets around the U.S. to U.S. Bancorp (USB), Wells Fargo and Blackstone Group LP (BX) for out 95 cent on the dollar.

Wells Fargo Chief Executive John Stumpf and Chief Financial Officer Timothy Sloan have repeatedly said the San Francisco bank--the fourth largest by assets in the U.S.--is looking to buy more U.S. assets from European banks.

It got $15 billion of loans when it bought BNP Paribas SA's (BNPQY, BNP.FR) energy lending business, and loans from Allied Irish Banks (AIBYY, ALBK.DB) and Bank of Ireland. Mr. Stumpf told investors in May, "As Europe continues to retreat back to their home countries and divest and so forth, we've been kicking tires and we've actually bought a few things that we really liked."

Write to Matthias Rieker at matthias.rieker@dowjones.com

(END) Dow Jones Newswires

June 22, 2012 14:25 ET (18:25 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

KORR: Mærsk: Fragtrater tager stort hop mellem Asien og Europa

29-04-2016 15:27:20
(Korr: rettet procenttal der var forkerte hos Journal of Commerce, red.)I den seneste uge er priserne for at fragte en container fra Asien til Europa i gennemsn..

Mærsk: Fragtrater tager stort hop mellem Asien og Europa -citat

29-04-2016 14:40:33
I den seneste uge er priserne for at fragte en container fra Asien til Europa i gennemsnit steget med hele 62 pct. Det skriver branchemediet Journal of Commerce..

Aktier/åbning: Tretrinsraket skyder Vestas i top - Novo daler

29-04-2016 09:20:42
Morgenstundens regnskaber fredag faldt mest positivt ud for Vestas, der efter få minutters handel ligger i spidsen af eliteindekset C20 Cap.Også Danske Bank og ..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

Citigroup Inc 46,28 -1,0% Fald i aktiekurs
Royal Bank of Scotland G.. 235,51 -3,8% Fald i aktiekurs
Wells Fargo & Co 49,98 -0,9% Fald i aktiekurs
U.S. Bancorp (DE) 42,69 -1,0% Fald i aktiekurs
BNP Paribas Act.A 46,24 -4,2% Fald i aktiekurs
Societe Generale 34,25 -4,0% Fald i aktiekurs
Sumitomo Mitsui Financia.. 6,09 -1,3% Fald i aktiekurs
The Blackstone Group L.P.. 27,44 -1,2% Fald i aktiekurs
Royal Bank of Scotland G.. 6,77 -4,7% Fald i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2016  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
1. maj 2016 19:27:27
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: ReleaseBuild_20160421.1 - EUROWEB5 - 2016-05-01 19:27:27 - 2016-05-01 19:27:27 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x