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NordLB impairs shipping loans ahead of 2018

The German shipping bank NordLB, which is backed by state funds, will impair its USD 19.1 billion shipping portfolio for the next three years, says CEO.

Shipping bank NordLB projects additional impairments on its USD 19.1 billion shipping portfolio over the next three years, says the bank's CEO, Gunter Dunkel.

"We have planned further substantial impairments in 2016, 2017 and 2018," he said at a press conference, according to Reuters.

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