Non-performing CRE loans surge 61% at three US banks
NPL ratio for commercial real estate up to 2.3% across trio, highest since at least 2019
The amount of commercial real estate loans classed as non-performing at Bank of America, Wells Fargo and PNC Bank rose to $5.9 billion from $3.7 billion in the third quarter, the highest level for each of the three since at least 2019.
PNC reported the largest proportional increase in commercial real estate non-performing loans (CRE NPLs), with its figure more than doubling to $723 million at end-Q3 from $350 million three months prior.
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