Maritime & Merchant Bank has booked a profitable start to the year despite limited new lending in the early weeks of 2019.

The lender, which counts Henning Oldendorff, Arne Blystad, Arne Fredly and the Roth family among its investors, suffered zero loan losses for the period.

M&M told its investors the first two months of 2019 have seen an operating result of NOK 14.2m