Major Norwegian bank points to improvements in shipping

Improved developments in shipping mean that DNB's impairments on loans and securities decreased significantly in the 3rd quarter.

BY OLE ANDERSEN

The world's largest supplier of loans for the shipping and offshore industries, Norwegian bank DNB, points to cautious improvements in shipping in a 3rd quarter interim report published on Thursday, and which greatly surpasses analyst expectations. However, the bank still expects a total loss on shipping in 2013 of between USD 509 - 679 million, compared to USD 543.7 million in 2012.

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