Bankers Unfazed by $185 Billion Pile of Loans to Private Credit

The biggest US banks spent the past week tallying more than $185 billion of combined exposure to private credit, an asset class that’s come under pressure in recent months. Executives — many of whom sought to calm investors’ jitters — still see potential in the market.

Citizens Financial Group Inc.’s private-credit portfolio will likely climb about 5% in 2026, in line with past years, according to Chief Executive Officer Bruce Van Saun.

Bruce Van Saun

Photographer: Christopher Goodney/Bloomberg

“It’s an area that we feel is important to some of our big relationships,” Van Saun said. And the bank’s goal is to “cement that ...