ShippingWatch

Shipping crisis still weighs down Germany's NordLB

Norddeutsche Landesbank has improved its bottom line by more than EUR 300 million, but problems in the German shipping industry are still dragging down the bank. Altogether, the bank's exposure against shipping stands at EUR 15.9 million.

Photo: PR/NordLB

German bank Norddeutsche Landesbank (NordLB) continues to struggle with loans to shipowners even though things are generally going better with the business.

NordLB is the biggest lender to the German shipping industry, where many owners have been fighting to make ends meet since the financial crisis erupted in 2008.

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