ShippingWatch

Commerzbank ditched billions in shipping loans

The German bank continued the efforts to ditch non-performing loans to shipping in 2017, which bolstered Commerzbank's run-down segment and reduced its loan loss provisions.

Commerzbank AG
Photo: Commerzbank AG

Commerzbank reduced its Ship Finance Portfolio by EUR 2.2 billion in 2017, shows the German bank's annual report, published Thursday.

The bank's shipping loans thus totaled EUR 2.6 billion by the end of the year, down from EUR 4.8 billion the year before.

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