Wolfgang Topp, head of the lender’srestructuring unit, told reporters: “We expect to reduce the shipping portfolioby about EUR 500m to EUR 750m per year.”
This would cut the EUR 7bn book to EUR 4.75bnif the higher figure were achieved.
It will continue with its policy of sellingoff loan packages to investors, as it did to Greece’s Navios group, as well aspromoting mergers between smaller German owners and pooling single-ship companiesso they can reach new sources of finance.
HSH
