Nordea sees shipping and offshore earnings dip

Nordea's earnings from shipping, offshore and oil services went down in the fourth quarter 2015 compared to the third quarter. Customer activity was moderate due to, among other factors, the low price, according to the annual report.

Photo: Thomas Borberg

Major shipping bank Nordea finished the fourth quarter 2015 with a somewhat lower profit than projected, according to the bank's annual report, published Wednesday. Zooming in on the bank's shipping, offshore and services business division, earnings here noted a slight decline in the fourth quarter, from EUR 114 million in the third quarter to EUR 94 million in the final quarter 2015.

Net interest earnings were stable, writes Nordea, while income from fees and commissions were lower compared to "a strong third quarter," notes the bank.

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

MPC upgrades 2022 guidance after strong first half

MPC Container Ships reports continued advancement in Q2, raising guidance for its operating result to almost half a billion dollars. High rates will continue for several quarters yet, the company expects.

Related articles

Latest news

See all jobs