HSH Nordbank hit by new loan loss provisions for billions

Ailing German shipping bank HSH Nordbank made loan loss provisions for EUR 2 billion in 2016 on non-performing shipping loans. Several equity funds are showing interest in buying the bank.

Photo: HSH Nordbank

Germany HSH Nordbank's large lending exposure to shipping continues to weigh down the state-owned bank, one of the world's biggest lenders to the shipping sector.

The bank was in 2016 again forced to make loan loss provisions for billions, namely EUR 2 billion last year, according to the annual report published by the bank Thursday.

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