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Media: Commerzbank's shipping portfolio halved in 3 years

The major German bank's decision to pull out of shipping has led to the bank's portfolio of shipping investments falling to USD 13.43 billion in three years, according to Lloyd's List.

Photo: Commerzbank
BY LOUISE VOGDRUP-SCHMIDT

About three years ago, Commerzbank chose to completely pull out of the shipping business in which the bank had otherwise been a big player. But due to the disappointing development in the shipping industry following the financial crisis, Commerzbank pulled the plug for shipping while competitors such as HSH Nordbank and NordLB remained in the game of financing the hard-hit German shipping sector.

This decision has led to a cutback in the bank's shipping portfolio from USD 22.2 billion in 2012 - where Commerzbank was the second-largest bank in Germany - to USD 13.43 billion this year, according to Lloyd's List.

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