Carriers

Commerzbanks's shipping retreat in full swing

Major German bank Commerzbank has reduced its exposure to shipping by 6 percent in the 3rd quarter, and the 2016 targets for the bank's shipping portfolio are already in sight.
Photo: Commerzbank
Photo: Commerzbank
BY KATRINE GRØNVALD RAUN

Developments at Commerzbank are going according to plan, and the bank's exit from shipping is in full swing, according to the bank's interim report for the 3rd quarter. The report shows that the bank has managed to reduce its shipping portfolio by 1 billion euros, 6 percent, down to 16 billion euros, which means that the bank's set goal of reaching a 14 billion shipping portfolio by 2016 is already within reach.

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