German shipping bank increases provisions considerably

Norddeutsche Landesbank (Nord LB), one of the biggest shipping lenders in the world, now increase its provisions considerably following the first nine months of the year. The bank sees no end to the crisis.

Photo: PR-foto: DHT Holdings

Following the presentation of its third quarter results, Norddeutsche Landesbank, one of the 10 biggest shipping banks in the world has increased its shipping-related provisions to a total of EUR 352 million compard to EUR 111 million in the corresponding period of 2011.

The bank still does not see an end in sight for the crisis in the shipping industry.

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