Oil impairments at Norway's banks set to rise
Norwegian banks with significant exposure to the offshore sector could face a rise in impairments due to oil industry losses, according to regulator. This would erode their profits as the full impact of the low crude oil market emerges.
BY FRANCES SCHWARTZKOPFF, BLOOMBERG
Norway's financial regulator said that banks exposed to oil-industry losses face a rise in impairments that will erode profits as the full effect of the slump in crude prices runs its course.
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