Tag: Commercial real estate

New York Community Bancorp
March 08, 2024 BY Elizabeth Anderson

NYCB gets $1bn capital backing

The bank announced on Wednesday, 6 March 2024 that former Whitehouse Comptroller of the Currency, Joseph Otting, is its new CEO. This appointment is part of a $1bn capital infusion from investors, which reportedly includes past Treasury Secretary Steven Mnuchin. High interest rates and a problematic commercial real estate (CRE) market are some of the…

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New York Community Bancorp
February 07, 2024 BY Simon Mugo

New York Community Bancorp Appoints a New Executive Chair

The rally higher helped mitigate the recent downturn triggered by the bank's disclosure of significant provisions for potential bad loans in the commercial real estate sector, an unexpected quarterly loss, and a reduction in dividend payments. The decline in shares previously erased around 60% of the bank's market value, bringing it down to just over…

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