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.
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.
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