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Commerzbank achieves shipping reduction three years early

Commerzbank managed to trim its shipping portfolio by 4.5 billion euros in 2013, down to 14 billion euros, which was the banks goal for 2016, according to the annual report.

Photo: Commerzbank

2013 saw Commerzbank surpass its own plan for how much the bank aimed to reduce its exposure to shipping by 2016, according to the German bank's annual report, which showed that the company managed to reduce its exposure to shipping by 4.5 billion euros, a 24 percent drop, down to 14 billion euros today.

The bank has spent a long time working to manage its involvement in the shipping industry, the condition of which has made a mark on the company's finances in recent years. This has led Commerzbank to announced a gradual reduction of the bank's shipping portfolio, a process that has now happened faster than expected.

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