2025-06-09-花旗集团-美国银行_本周图表——非银行商业贷款市场份额的一些历史背景_21页_608kb

US Banks Market Share Analysis

Citigroup's report examines the US banking sector, focusing on non-bank commercial lending and its competitive threat. US banks hold approximately 17% of the lending market share, slightly down from ~20% pre-COVID, while non-bank lenders account for ~13% and have maintained this share since the 1980s, though players have changed (e.g., GE Capital pre-GFC).

Private credit growth is taking market share, but Citi views this as less bearish for banks due to potential benefits from non-depository financial institution (NDFI) lending, which offers attractive risk-adjusted returns. Deposit trends show a $68 billion quarterly decline driven by lower reserves and higher wholesale funding, but loan growth to NDFIs rose $28 billion, partially offsetting this. Citi expects deposits to remain stable year-end due to mild loan growth.

The analysis stresses the complexity of the evolving lending landscape and highlights NDFI as a strategic opportunity for banks.