DVB Bank has widened its provisions for bad debt on shipping and offshore loans. In its first quarter results DVB Bank said that “in line with projections” it had increased had increased its allowance for credit losses from shipping to EUR36.3m from EUR13.4m previously. “The increase was largely required for legacy exposures in the shipping finance portfolio, and for financings in the offshore finance portfolio, which is burdened by the slump in oil prices,” the bank said.
