Higher provisions seen at US banks exposed to energy loans
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
US BANKS exposed to energy-related loans will need to set aside even more money than previously expected to cover potential losses as oil prices near 12-year lows.
Earlier on Wednesday, BOK Financial Corp became the third US bank over the past month to increase its cushion for energy loans, and analysts said there was more to come as earnings season kicks off this week. "It's going to get worse before it gets better," said Michael Rose, an analyst at financial services firm Raymond James Financial.
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Loyang Valley sold for S$880 million to SingHaiyi-led consortium
