Shipowner-backed Maritime & Merchant Bank has seen a fall in the credit quality of boxship and bulker loans during the coronavirus-hit second quarter.
But the Norwegian-listed niche lender, back by investors like Henning Oldendorff and Klaveness Marine Finance, said it is ready to work with clients to finance new projects.
Net interest income dropped to $5.4m from $7.27m in the three months to 30 June, with net profit declining to $789,000 from $2.25m
