30/03/2015at 10:32

HSH increases expected use of state guarantees

The strong dollar is causing the major German bank, HSH Nordbank, to increase expectations of its use of state guarantees worth billions which were made available to the bank by the state owners in 2009 in order to avoid collapse.

BY OLE ANDERSEN

The state-owned and operated German HSH Nordbank, one of the world's largest lenders for shipping, will have to make more use of the state guarantees made available to the bank during the financial crisis. The reason behind this, is the strong dollar which the bank books its provisions in, writes the German paper Handelsblatt, according to news agency Reuters.

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