NordLB allocated significant amounts of money for non-performing loans in the half-year interim report this year. The provisions have grown five-fold compared to the first half of 2015 and they contribute to NordLB's projection of booking the bank's first full-year deficit since 2009.
The large provisions for shipping loans of about EUR 1 billion became necessary, explains the bank's Global Head of Ship and Aircraft, Oliver Faak, in an interview with ShippingWatch.
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