Korea’s Woori Bank has revealed a drop in loan provisions in the second quarter.

The lender set aside KRW 430.7bn ($383m) for non-performing loans to shipyards like Sungdong and STX Offshore & Shipbuilding. This compares to KRW 691.1bn in 2015.

Woori has however classed loans to restructuring DSME as “normal”, unlike the shipyard’s other creditors.

If it had put this lending in the “precautionary" category, it would have needed to set aside between 7% and 19% of its DSME loans, the Yonhap news agency reported.

But