ShippingWatch

Danske Bank reduces impairments for shipping and offshore

Danske Bank had to book impairments on loans for shipping and offshore in 2017 again, "although at a much lower level than in 2016," according to the annual report.

While announcing their annual report Friday morning, Danske Bank also announced its plans to from the historic headquarter in Holmens Kanal.

Although Danske Bank had to book impairments on loans to shipping and offshore customers in 2017, it was on a much smaller scale than previously, according to the bank in the annual report which was released Friday.

"Corporates & Institutions continued to book impairments against exposures to the shipping and offshore sectors, although at a much lower level than in 2016, reflecting a more stable situation for offshore companies active on the Norwegian continental shelf," writes the bank in the report.

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