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Nordic banks halve lending to oil and gas

Since the oil price collapsed in 2014, major Nordic banks DNB and Nordea have strongly reduced their lending to the oil and gas sector.

Photo: Finn Frandsen/Politiken/Ritzau Scanpix

In six years, lending to the oil and gas sector has been heavily reduced at major Nordic banks DNB and Nordea.

According to Norwegian media Sysla, both banks have roughly halved their lending to the oil and gas sector since 2014. Whereas DNB had issued loans in the sector for USD 20 billion in 2014, this figure was down to USD 11 billion by the end of last year.

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