Norwegian lender SpareBank 1 SR-Bank has revealed most of its reduced impairments in the fourth quarter related to the offshore sector.
The Oslo-listed bank said its shipping portfolio was down a little at NOK 11.22bn ($1.41bn) on 31 December, against NOK 11.98bn at the end of 2019.
The bank said NOK 454m of this figure was in stage three, the highest level of restructuring before default, compared with NOK 360m a year ago.
