JPMorgan’s Petno Sees Banks Making ‘Irrational’ C&I Loans
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Banks are making “irrational” commercial and industrial loans as they seek higher-yielding assets and the supply of quality borrowers is low, said JPMorgan Chase & Co.’s Doug Petno.
“Just in the last several months we’ve seen some irrational behavior, in our view, in terms of structure and price,” Petno, chief executive officer of commercial banking, said today at an investor conference at the firm’s New York headquarters. “There’s a lot of capital chasing a finite amount of opportunities.”