Deutsche Bank will sell shipping loans for USD one billion

Deutsche Bank is allegedly looking to sell off a significant portion of its shipping debt in order to reduce its exposure to the hard-pressed shipping sector, say sources to Reuters.

Photo: Hyundai Merchant Marine

Shipping is not an attractive industry for banks at the moment. Deutsche Bank will reportedly reduce its exposure to the pressured sector by a significant amount.

According to Reuters' sources, Germany's largest bank is looking to get rid of shipping loans for a minimum of one billion dollars, writes the media bureau.

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