Struggles in the shipping and offshore markets burdened German lender DVB Bank during the first half of 2016.
Higher provisions on its maritime book and lower lending activity contributed to a reduced pre-tax performance.
Ralf Bedranowsky, chief executive and chairman of the bank, said: “DVB's performance during the first half of 2016 was burdened by the persistent shipping crisis, the ECB's low-interest rate policy, and the high costs induced by banking regulation.”
DVB
