HCOB secures profit from shipping loans in first year of new ownership

Hamburg Commercial Bank books a million-euro profit from its shipping loans in 2019, which was the first year after a large transformation and under new ownership.

Photo: PR / Hamburg Commercial Bank

German bank Hamburg Commercial Bank (HCOB) is still confident that shipping is good business.

At least, the bank said so one year ago, and it is now evident in the numbers as well. In 2019, the bank landed a profit before taxes of EUR 124 million from shipping related activities, while 2018 saw a loss of EUR 182 million.

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