Services

NordLB logs loss after new shipping impairments

New provisions to the value of EUR 435 million sent Germany's second-largest shipping lender, Nord LB, into a deficit in the first three months of the year. And the outlook is not looking very positive.
BY OLE ANDERSEN

German shipping bank Nord LB delivered a loss in before tax of EUR 98 million in the first quarter of the year. The reason is primarily a worsening of the international shipping markets, writes the bank in its quarterly report, published Wednesday.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
    • Must be at least 8 characters, including three of: Uppercase, lowercase, numbers, symbols
    Must contain at least 2 characters
    Must contain at least 2 characters

    Get full access for you and your coworkers

    Start a free company trial today

    Share article

    Related articles

    Sign up for our newsletter

    Stay ahead of development by receiving our newsletter on the latest sector knowledge.

    Newsletter terms

    Front page now

    Further reading

    Jobs