Loan loss provisions hit $2.5bn at HSH Nordbank

German lender HSH Nordbank has taken a big provisioning hit in its 2017 accounts from its ongoing privatisation process.

Loan loss allowances were EUR 2.09bn ($2.54bn) last year, against a reversal of EUR 631m in 2016.

The one-off effects of its privatisation accounted for EUR 1.1bn of this as it set aside cash to dispose of its non-performing exposures (NPEs).