BofA Beating JPMorgan as BNP Leads French Lenders Retreat
This article is for subscribers only.
Bank of America Corp. overtook JPMorgan Chase & Co. as the biggest lender to the commodities industry in the first five months as French lenders led by BNP Paribas SA retreated amid the debt crisis.
Commodity loans arranged by Charlotte, North Carolina-based Bank of America totaled $14.71 billion, and New York-based JPMorgan’s $14.41 billion ranked it second, according to syndicated-loan data compiled by Bloomberg. Citigroup Inc. was the third biggest with $13.68 billion of financing, rising from fourth last year. BNP Paribas slipped to 17th from second.