Non-performing loans with the four biggest US banks have risen to $24.4bn in the last quarter of 2023.
Debts at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup where borrowers have not made a payment in at least 90 days are predicted to have ballooned by $6bn since the end of 2022, according to a Bloomberg analysts’ consensus.
Commercial property, and in particular mortgages on less-full office buildings, had been one of the biggest factors pushing up problem debts.
