US regional lenders step up loans to oil and gas

Major dealmakers: The JPMorgan Chase offices in New York. Wall Street’s largest banks remain among the biggest lenders to the fossil fuel industry. Last year, such loans were dominated by Wells Fargo & Co, Bank of America Corp and JPMorgan Chase & Co. — AP

LONDON: A group of US regional banks is ratcheting up lending to oil, gas and coal clients, grabbing market share as bigger European rivals back away.

The list of banks includes Citizens Financial Group Inc, BOK Financial Corp and Truist Securities Inc, according to data compiled by Bloomberg.