ABN Amro tripled its loans to shipping

ABN Amro has rebuilt its exposure to the shipping industry during the crisis and plans to grow 10-12 percent annually ahead of 2017, according to Reuters.

Photo: APM Terminals

Major Dutch bank ABN Amro has tripled its loans to shipping during the crisis, from USD 2.5 billion in 2009-2010 to USD 7-8 billion today. And according to news agency Reuters, the state-controlled bank plans to increase its exposure to shipping by 10-12 percent annually ahead of 2017, says Head of Shipping, Gust Biesbroeck.

"We started from a very low base. As a result of the financial crisis and everything that happened to our bank and other banks, we lost quite a sizeable portion of our shipping portfolio. So, we quickly took the decision to rebuild our presence in the industry and also we think it is a good time in the cycle to lend money," says Gust Biesbroeck.

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