According to the bank’s annual results the NOK7.42bn figure for impairment losses was up from NOK5.15bn in 2015.
“Total impairments losses for 2016 were mainly related to shipping, offshore and energy in the large corporate and inter- national customers segment,” DNB Bank said.
The bank also saw a sharp rise in net non-performing and doubtful loans which stood at NOK25.7bn at the end of December 2016, compared to NOK14bn at the end of 2015. Non-performing and doubtful loans represented 1.49% of its loan portfolio at the end of 2016.
“The increase in non-performing and doubtful loans and guarantees is linked to shipping, offshore and energy in the large corporate and international customers segment,” the bank said.
DNB Bank reported a profit of NOK19.25bn for 2016 compared to NOK24.77bn in the previous year.
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