Biggest Shipping Banks See End to Slump as Lending Recovers
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Nordea Bank AB and DNB ASA, two of the world’s largest shipping lenders, are seeing signs of an end to the maritime industry’s five-year slump as bets grow on a recovery in sea-borne trade.
Loan losses at Nordea’s shipping unit slid 15 percent in the second quarter from the first three months, hitting the lowest ratio since the third quarter of 2011. Operating profit grew to a seven-quarter high and loan losses at the largest Nordic bank’s maritime business will probably drop further, Nordea Chief Executive Officer Christian Clausen said.