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NordLB still struggling with risky shipping loans

The North German bank NordLB made deferrals for EUR 100 million in the 1st quarter 2014, but the number is decreasing.

Photo: Hamborg Havn

State-owned German shipping bank NordLB, Norddeutsche Landesbank Girozentrale, continues to struggle with considerable deferrals on risky loans in ships, while the bank - like many other exposed German ship lenders - is also awaiting and adapting to the European Central Bank's (ECB) impending health check.

Deferrals in the first quarter 2014 came to EUR 100 million, compared to EUR 241 million in the same period last year. A 59 percent decrease that helped the bank land a total profit of EUR 92 million in the first three months of 2014.

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