Shipping impairment losses rise at DNB

Despite overall impairment losses falling to NOK737m ($125m), NOK452m down on the last quarter of 2012, the bank highlighted shipping as an industry where both individual and collective impairments continue to rise.

Reviewing the first three months of 2013, the bank said, "the situation in the shipping markets remained challenging, especially in the tanker, dry bulk and container segments."

DNB made NOK3.1bn in profit for Q1 2013, up from NOK1.7bn in the same period last year. Total profit for 2012 was NOK13.7bn.

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