UK banks brace for property loan losses from Covid-19 economic hit

British lenders are bracing for a hit from commercial property loans as shopping centre developer Intu Properties becomes the first such firm to ask for emergency relief following the coronavirus outbreak.
UK banks brace for property loan losses from Covid-19 economic hit

British lenders are bracing for a hit from commercial property loans as shopping centre developer Intu Properties becomes the first such firm to ask for emergency relief following the coronavirus outbreak.

Barclays, HSBC Holdings, Ulster Bank-owner Royal Bank of Scotland, and Lloyds Banking Group had £49.3bn (€54.5bn) in outstanding UK commercial real estate loans at the end of last year, according to public documents.

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