ShippingWatch

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Sea Cargo Charter hesitates to raise climate ambitions

The climate ambitions of the Sea Cargo Charter initiative have been criticized by several members, but it seems they still don’t stand to be raised, Chair Jan Dieleman tells ShippingWatch. For over a year, the initiative has considered raising the bar.

Related articles

Latest news

See all jobs