NYCB Under Pressure: Seeking Cash Infusion Amid Fourth-Quarter Loss

Wednesday, 6 March 2024, 17:11

Embattled lender NYCB is seeking a cash infusion after posting a surprise fourth-quarter loss, attributed to higher provisions related to the beleaguered commercial real estate sector. The company has also announced a dividend cut and committed to reducing its exposure to CRE.
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NYCB Under Pressure: Seeking Cash Infusion Amid Fourth-Quarter Loss

Embattled lender NYCB seeks cash infusion, source says

NYCB did not immediately respond to a Reuters request for comment. NYCB has been under pressure since it posted a surprise fourth-quarter loss on Jan. 31, due to higher provisions tied to its exposure to the beleaguered commercial real estate (CRE) sector, and cut its dividend. It has pledged to reduce its exposure to CRE.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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