Nordea’s Shipping & Offshore arm logged an operating profit of EUR 181m ($224.8m) in the opening six months of 2014, beating the EUR 72m seen in the same period last year.
The division was also able to reverse EUR 34m in loan loss provisions, a turnaround from the EUR 74m in loan losses a year earlier.
“Shipping experienced low credit losses, and while customer activity fell from high levels last quarter, volume growth picked up towards the end of the quarter,” Nordea said in its quarterly report.
In
