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BoFA and Other Bankers Refocus on US Lending

Robert Karr
BoFA and Other Bankers Refocus on US Lending

US commercial bankers (XLF) have expanded their global banking business by focusing on Europe, emerging markets, and the Middle East in the last couple of years. As rates were rising at a faster pace in the United States, banks were hoping to compensate for lending growth outside the country. Europe is the only non-US market that is strong, and the European Central Bank has indicated it may be reversing its monetary policy in December.