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DNB reverses past impairments from shipping customers in first half of 2021

In the second quarter, Norwegian bank DNB has reversed past impairments for customers in the shipping industry, its second quarterly results show. Lending to the sector has diminished over the past year.

Photo: PR/DNB

Much like the first quarter, major Nordic bank DNB has managed to reverse prior impairments from loans to shipping customers in the second quarter, while losses to the oil sector were significantly lower than in the past.

For the second quarter, DNB recorded a net reversal of impairments to shipping customers of NOK 81 million (USD 9.3 million), the latest accounting figures from the bank show. The trend from the beginning of the year has thus continued in the past months, as DNB also reversed past impairments in the shipping segment for a total of NOK 155 million in the first quarter.

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