HSH Nordbank still struggling with shipping portfolio

Once again, HSH Nordbank has found it necessary to make loan loss provisions on non-performing shipping loans. Meanwhile, the bank, currently being privatized, achieved a bottom-line profit in its core business.

Photo: HSH Nordbank

Major German bank HSH Nordbank is still struggling with non-performing loans to distressed shipping customers.

The bank has just released its financial report for the year's first nine months, and shipping is once again a sore spot for the bank. While the bottom line shows a profit before taxes for the bank overall, it has been necessary to make provisions for losses on non-performing shipping loans outside of the core business.

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