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DVB doubles loss provisions for shipping and offshore

German-owned transport bank DVB Bank Group (DVB) has increased its credit allowances for losses on shipping and offshore significantly in the first three months of the year due to the continuing challenges in the two markets.

Photo: HafenHamburg

Frankfurt-based DVB, one of Europe's top shipping and transport banks, has in the first quarter 2017 increased the bank's credit allowances for losses on loans to shipping and offshore, shows the interim report published Thursday.

Credit allowances for losses on the bank's loans to shipping and offshore came to EUR 65.9 million in the quarter against EUR 36.3 million in the same period last year, almost double.

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