NYCB Under Pressure: Seeking Cash Infusion Amid Fourth-Quarter Loss
Wednesday, 6 March 2024, 17:11
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.
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