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NordLB to exit ship finance after ‘painful’ losses

Norddeutsche Landesbank is to quit ship finance after unveiling a consolidated loss equivalent to $2.6bn last year. Its shipping portfolio has fallen in value by 39% over the last two years, the bank added

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‘Ridding ourselves of bad loans from ship financing will give us a new start,’ says chief executive Thomas Bürkle

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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