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Shipping loans drag down DVB Bank

Large loans to the shipping and offshore industry dealt a major blow to the result at DVB Bank in the first half of this year. Excess capacity is a big part of the problem, writes the bank.

Offshoreskib finansieret af DVB Bank | Photo: PR-foto: DVB Bank

Germany's DVB Bank has released its half-yearly report, revealing a huge loss for the bank which operates as a major lender to the shipping and offshore industry.

In the first half of the year, the bank booked a loss of EUR 506.3 million, relative to a profit of EUR 14.1 million in the first half of 2016.

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