Jul 21 2014
This month, IBISWorld caught up with Kenny Elias,?SVP and?Chief Lending Officer of Corporate Lending, at?Congressional Bank?to hear what’s going on in the banking world.
IBISWorld: What challenge(s) do you and your company or department face right now?
Kenny Elias: As a bank in the Washington DC market, we face significant local competition, especially for strong local lending opportunities at a reasonable rate of return. Our corporate lending program helps the bank diversify its loan portfolio and earnings in a safe and sound manner.
IW: How does/might IBISWorld help you overcome this or other challenges?
KE: IBISWorld provides us with comprehensive industry data in a cost effective manner. We use the data during due diligence to help us better understand the competitive and industry dynamics faced by our potential borrowers. The IBISWorld data is integral to our loan and investment analyses.
IW: What do you foresee happening in your industry within the next year?
KE: Competition in the corporate loan market will likely remain elevated over the next year. Currently, a significant number of non-bank investors (Loan funds, CLO’s, etc) are participating in this loan class, increasing the liquidity in the market to fund these loans. This dynamic is likely to continue over the near term, creating increased competition for banks and other long term investors in the corporate loan market to find attractive loan opportunities.
IW: Tell us something interesting about yourself:
KE: I spend most of my free time with my wife and children. I coach several youth basketball and soccer teams and have competed in nine triathlons in the past three years.
Congressional Bank is a local bank located in the Washington DC metropolitan area. In addition to serving local customers with traditional bank loan and deposit services, the bank has several national lending platforms, including a corporate lending program focused on participating in bank debt deals to large national companies.