© Donvictorio
By Alex Lennane
Misery in the shipping market is prompting banks to get out. Deutsche Bank is looking to sell $1bn of shipping loans and “toxic debt” to cut its exposure – but it won’t exit the sector entirely, retaining some $4-$5bn worth. The reason is that the European Central Bank is reviewing bank lending to shipping, with an eye to potentially requiring them to set aside more capital. RBS is looking to divest $3bn, while HSH Nordbank and NordLB are also looking at sell-offs.
Comment on this article