ShippingWatch

German bank ahead of schedule selling shipping loans

Norddeutsche Landesbank, NordLB, has reduced its combined loan portfolio to shipping by EUR 4.6 billion since 2015, the bank informs in the half-year interim report Wednesday.

Photo: Colourbox

The German, state owned shipping bank NordLB has released a half-year report which the executive team finds satisfying for the first time in a long time.

The bank is ahead of its own schedule in winding down non-performing shipping loans worth billions of euros over the course of several years, according to the bank's report, released Wednesday.

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