ShippingWatch

Nordea: Moderate developments in shipping and offshore

The shipping and offshore business delivered lower returns in 2017 for Nordea, which reduced its lending portfolio 23 percent last year. The bank has reduced its deficit on shipping and offshore, though the division still lost EUR 136 million.

Photo: /ritzau/Jens Dresling

Net interest earnings dropped, operating result was down, and the same applies to the overall loans to the segment shipping and offshore at Nordic shipping bank Nordea.

The annual report published Thursday shows that net interest income decreased 7 percent from EUR 252 million in 2016 to EUR 234 million in 2017. Overall losses on loans fell slightly, but still finished at a significant deficit of EUR 136 million.

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