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German shipping bank scores low ranking in EU stress test

Shipping bank Nord LB performed the worst of all German financial institutions surveyed in a major stress test of the European financial sector. Bad shipping loans are the reason for its low ranking.
Photo: PR/NordLB
Photo: PR/NordLB
by CHRISTIAN CARLSEN

German shipping bank Nord LB performed the worst of all German financial institutions in a major stress test of the European financial sector.

Friday evening, the European Banking Authority (EBA) published the results of an EU-wide stress test of 48 banks which assesses the resilience of the institutions in the event of specific economic crisis situations.

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