Germany’s Nord/LB has more than halved its exposure to shipping sector and expects to have exited the sector completely next year.
The Hanover-based bank saw its shipping portfolio drop to €4.6bn ($4.9bn) and 535 ships at the end of last year.
That is a significant decline from €10.3bn and 1,047 vessels in 2018.
The reduction follows the sale of a number of loan portfolios to private equity buyers last year, such as the €2.6bn
