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.

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

Further reading

Related articles

Latest news

See all jobs