Swedish lender Nordea has managed to reduce overall loan losses in the second quarter, despite continuing problems with shipping, oil and offshore portfolios.
The bank said the net loan loss to 30 June was EUR 106m ($122m), down 17% from EUR 127m a year ago.
Shipping, offshore and oil loan losses were up at 146 basis points (bps, 1.46%) from 80 bps the year before, but down from 200 bps in the first quarter
Net earnings were down at EUR 743m from EUR 845m, but the total loan loss ratio was also lower at 13 bps, against 15 bps in 2016.
