Heavy charges against DNB’s offshore and shipping loan book that hit its third quarter results do not detract from a strong underlying portfolio, the Norwegian bank’s head of shipping said today.
The Norwegian bank took impairments of NOK 710m ($86.27m) on its shipping, offshore and logistics book in the three months to the end of September as it felt the continued impact of the severe downturn in the offshore energy market and poor conditions in several shipping sectors.
“In
