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HSH Nordbank hurt by shipping and EU requirement

The major German shipping lender improved its net income in 2015, but the group's net result declined. The crisis in the shipping markets continue to weigh the bank down, and HSH Nordbank made further impairments and loan loss provisions in the period.

Photo: HSH Nordbank

HSH Nordbank finished 2015 with an improved overall income, but bad shipping loans and a one-off cost item related to EU requirements weighed down the German bank's bottom line.

Net income increase to EUR 1.3 billion from EUR 908 million in 2014, but the combined group result came to EUR 98 million, down from EUR 160 million the year before, according to a financial statement from the bank, published Thursday.

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