Soured CRE loans pile up at BofA, Wells Fargo and PNC

Proportion of non-performing loans surges past the pandemic’s worst stretches

The proportion of Bank of America’s commercial real estate (CRE) loans tagged as non-performing ballooned sevenfold in 2023, a revealing sign of how a high-inflation, high-rate economy is pummelling CRE loans in a way not even the depths of the Covid-19 lockdowns did.

The bank’s non-performing CRE loans grew from $271 million to more than $1.9 billion over the year, pushing the proportion of soured CRE loans from 0.39% to 2.64%.

!function(e,n,i,s){var d="InfogramEmbeds";var o=e

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here