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  • Citigroup Inc. (NYSE:C) - OneWest buys $1.4 billion Real Estate Loans from Citibank

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    Friday Nov. 12, 2010 at 07:23 am EST
     
    OneWest Bank buys $1.4 billion Real Estate Loan Portfolio from Citibank
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    OneWest Bank on Thursday purchased a $1.4 billion multifamily and commercial real estate loan portfolio from Citibank (a unit of Citigroup Inc.) expanding its CRE lending business.

    President and CEO Joseph Otting said "This portfolio purchase represents our ongoing commitment to commercial real estate lending. We are excited to add quality earning assets to our balance sheet and look forward to providing all of the banking services that OneWest has to offer to our new customers."



    The portfolio includes about 600 loans. The terms of the deal weren't disclosed by any party. OneWest is privately held retail banking firm based in Pasadena, California. Shares of Citigroup Inc. closed at $4.36 on Thursday at resistance level of $4.47. The resistance level above is at $4.98. The support levels below are at $4.22 $4.08, $3.92. Earlier this week Citigroup Inc.  Opened its Flagship Branch in Hongkong . Citigroup Inc. (NYSE:C) was also in news as it was Under Scrutiny by SEC.

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