ShippingWatch

Major Nordic banks impair billions of kroner for losses on oil

Several major Nordic banks are hit by the coronavirus crisis as well as the plunging oil price. DNB and Danske Bank make impairments for offshore customers totaling several billion kroner, show the banks' interim reports.

Photo: Antonio Bronic/Reuters/Ritzau Scanpix

Danske Bank and DNB are hit hard by the economic downturn triggered by the coronavirus outbreak and the steep dive in the oil price.

Both banks have made impairment charges totaling billions of kroner in their interim reports, as they expect that not least the offshore sector will be hit hard by the crisis.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Extreme container rates can push shippers into bankruptcy

Extreme container freight rates might lead to a string of bankruptcies for companies without transport deals, says shipping analyst Lars Jensen in an analysis to Shippingwatch. Particularly smaller fashion brands are under pressure, according to trade organization.

Containers piling up at Port of Felixstowe

Efficiency is dropping at UK container port Felixstowe while containers are piling up, according to Vesselsvalue. Some carriers are now opting to divert their vessels away from the port.

Further reading

Related articles

Trial banner

Latest news

See all jobs