JPMorgan Grabs Europe Loan Share as French Waver: Credit Markets
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U.S. banks led by JPMorgan Chase & Co. and Citigroup Inc. are boosting their share of loan underwriting in Europe to the highest since 2007 as French lenders’ dominance ebbs amid the region’s expanding debt crisis.
The Wall Street banks captured 10 percent of the $860 billion of loans arranged this year, up from 8 percent in 2010. BNP Paribas SA, Credit Agricole SA and Societe Generale SA have 15 percent of the market, the least since 2006 and down from 16.5 percent a year ago, according to data compiled by Bloomberg. BNP Paribas and Credit Agricole remain the top two lenders. Societe Generale slipped back to its No. 6 ranking of 2009.