The bank said allowance for credit losses reached a high of EUR 87.1m ($120.3m) last year, from EUR 70.7m the year before, due to the “prevailing crisis” in some maritime sectors.
And it incurred EUR 23.7m in additional costs for vessels held by the bank.
The annual net profit was reduced to EUR 110.2m from EUR 124.9m in 2012.
CEO Wolfgang Driese said the result was “satisfactory.”
“We
