New York Community Bancorp posts first-quarter loss

Signature Bank

01/05/2024 12:03

May 1 (Reuters) - New York Community Bancorp  NYCB.N 
reported a loss for the first quarter on Wednesday, as the
commercial real estate-focused lender increased its loan-loss
provisions to cover possible defaults.
    The bank posted a loss of $327 million, or 45 cents per
share, in the three months ended March 31. That compares with a
profit of $2.01 billion, or $2.87 per share, in the year-ago
period.  

 (Reporting by Niket Nishant and Manya Saini in Bengaluru;
Editing by Saumyadeb Chakrabarty)
 ((Manya.Saini@thomsonreuters.com;))