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25 April 2019 The on-line newspaper devoted to the world of transports 17:48 GMT+2



April 5, 2019

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German bank NORD/LB confirmation the escape from the segment of the financings to the naval field

Al 31 Decembers the credits in suffering piled to 7,5 billion euros, of which 2,6 billion soon they will be transferred to an investor financial

Yesterday financial institution German NORD/LB has confirmed own will to exit from the segment of the financings to the naval field that follows a reduction of the uncollectable credits in this branch of specific activities that last year have involved the appropriation of ulterior billetings for 1,89 billion euros, disposition - it has emphasized the bank - that has determined a net loss for the exercise anniversary although all the other segments of activity have continued to generate profits. Net loss to consolidated level that it is piled to -2,35 billion euros.

"A so heavy loss for 2018 - the NORD/LB managing director has commented - is painful. But to free us from the uncollectable credits in the branch of the financings to the shipping gives a new beginning to us. Now we can see with the maximum clarity the future direction of the bank".

At the end of the 2018 German bank it had reduced the exposure in confronts of the field of the shipping to 10,3 billion euros regarding 16,9 billion to end 2016. Al 31 last December the amount of credits in suffering turned out pairs to 7,5 billion euros, quota that NORD/LB ripromette to be reduced with the maximum urgency and, with this objective, has announced that the first step will be the transfer of a meaningful part of the pocketbook, for total 2,6 billion euros, to an investor financial.

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