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Nordea performs major impairment on shipping

Improvement in Denmark and deterioration in shipping in the fourth quarter did not change the fact that these two areas are Nordea's most troubled lending sections. The major bank performs drastic impairment on shipping in 4th quarter.

Photo: Lorenzen Søren Jyllands-Posten

In spite of improvements in the fourth quarter, Banking Denmark remains Nordeas weakest country segment by far, and shipping remains the worst segment of all.

After having performed impairments of 64 to 87 basic points on the bank's loans to Danes in the first three quarters of 2012, the provisions for Nordea in Denmark ended up at 55 basic points in the fourth quarter. In comparison, the average for the Group was 29 basic points for the same quarter, and the second-worst country segment, Poland and the Baltic, had 33 basic points.

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