Dutch lender NIBC Bank’s shipping book shrank in the second half of 2022.

The maritime portfolio finished the year at €1.11bn ($1.17bn), up from €914m at the end of 2021.

But NIBC said last year that it had achieved a 25% increase in lending to the sector in the first half of 2022 at €1.14bn.

This was up about €140m from when the bank spoke to TradeWinds in June 2022 to celebrate passing the €1bn mark.