22 jun: Fredagens aktier: Stille og svag negativ slutning på ugen
25 jun: USA/aktier: Bank-investorer trodsede nedjustering
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

Nets/Barclays: Solgt til alt for høj præmie i børsnotering

07-12-2016 15:29:33
Trængselstiderne for aktionærerne i Nets kan meget vel fortsætte.Det vurderer i hvert fald den britiske storbank Barclays, der onsdag har indledt dækning af akt..

Novo/UBS: Prispres ja - dommedag nej

07-12-2016 13:04:22
Markedet ser for sort på udsigterne for Novo Nordisk, der godt nok oplever prispres i USA, men ikke i en grad, så der er tale om dommedag.Det vurderer den schwe..

Aktier/middag: Novo hiver C20 i pænt plus

07-12-2016 11:30:16
Der er overordnet en positiv stemning på det danske eliteindeks onsdag middag, hvor især Novo Nordisk, Mærsk og bankerne trækker C20 op i pænt plus.Samlet stige..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Novo/UBS: Prispres ja - dommedag nej
2
Vestas løber med svensk ordre
3
Dong og Nets presser FLSmidth og Nordea ud af C20 - NY
4
Mærsk: Antallet af oplagte skibe eksploderer efter konkurs - GENT
5
Aktier/tendens: Bankerne kan blomstre i ventet positiv åbning

Relaterede aktiekurser

Royal Bank of Scotland G.. 214,79 2,7% Stigning i aktiekurs
Wells Fargo & Company 56,44 1,6% Stigning i aktiekurs
Citigroup Inc 58,39 0,8% Stigning i aktiekurs
Societe Generale 44,87 3,7% Stigning i aktiekurs
BNP Paribas Act.A 59,46 2,3% Stigning i aktiekurs
The Blackstone Group L.P.. 27,86 4,9% Stigning i aktiekurs
U.S. Bancorp 50,88 0,3% Stigning i aktiekurs
Royal Bank of Scotland G.. 5,50 1,9% Stigning i aktiekurs
Sumitomo Mitsui Financia.. 8,06 0,8% Stigning 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.
 
7. december 2016 19:15:28
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20161205.1 - EUROWEB5 - 2016-12-07 19:15:28 - 2016-12-07 19:15:28 - 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