Banks don't use Argus??

All, noticed recently that debt teams at some of the big banks (Citi, MS, JPM, etc.) don't use Argus and instead model big office deals in Excel. Very frustrating to receive those materials from them. Does anyone know why they don't use Argus, just out of curiosity?

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Curious what capacity you're receiving materials like this from a Bank? I worked on the lending side for two years and never sent our internal UW to anyone. To try and answer your question, we usually just viewed excel as a much faster way to U/W than in ARGUS. Usually, in lending, you need a decision much faster than on the equity side, so this helps to speed up the process. Also on the BS side of things focus is more on the Credit of the Owner and Tenants, rather than the complex lease rollover that Argus excels at.

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