Wells Fargo & Co (WFC.N), the world's biggest bank by stock market value, remains on the lookout to buy loan portfolios in Europe but is in no hurry to snap up an ailing bank to speed up its international growth, a senior executive told Reuters. "A lot of banks have issues that we don't have, so we'll focus on what we're good at," said Tim Sloan, head of wholesale banking. In the last three years Wells Fargo has bought a 4 billion pound ($6.4 billion) portfolio of UK commercial real estate loans from Commerzbank AG (CBKG.DE), paid 690 million euros ($862 million) to buy asset-backed lender Burdale and picked up a North American oil business from BNP Paribas SA (BNPP.PA), which also gave it an opening into the North Sea oil sector.
via Business News http://ift.tt/10nnwLp
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