Germany’s NordLB Bank: “40% Of Our Shipping Loan Book Is Non-Performing”

– Germany’s NordLB Bank: “40% Of Our Shipping Loan Book Is Non-Performing”:

Germany’s second-largest shipping lender, German Landersbank NordLB warned it was facing a loss of “more than €1bn” this year, as a result of the latest shoring up of reserves against losses on its portfolio of shipping loans, and that a whopping €8 billion, or 40%, of its shipping loan book was now non-performing.

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