Banks to take Eu92bn commercial property hit, says S&P

28 Apr 2010

European banks will take losses of around Eu92bn from their commercial real estate exposures in the UK, Ireland and Spain, according to Standard & Poor’s.

The rating agency estimates that, in total, impairments between 2009 and 2011 for the three countries will reach 10% of all commercial real estate loans, mostly accounted for by domestic banks. In the UK losses will total 9% of all commercial real estate loans, compared with 6% for ...

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