Major US banks increase commercial real estate write-offs through bad debt cleanup
BAC Bank Of America Corp
$50.64 +0.50%
View chart & analysis → - 1Wells Fargo's third-quarter commercial real estate (CRE) write-offs increased to $107 million.
- 2Bank of America's third-quarter commercial real estate (CRE) write-offs increased to $105 million.
- 3Wells Fargo's bad commercial real estate (CRE) loans decreased by 20% to $2.7 billion in the third quarter.
So what's the key point?
Wells Fargo and Bank of America saw increased costs as they processed losses related to commercial real estate. Wells Fargo's bad loans decreased to $2.7 billion.
Source Bisnow · View original ↗
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