German shipping lender HSH Nordbank is close to sealing its sale to private investors as it revealed a reversal of loan-loss provisions.
It wrote back EUR 60m ($68m) of impairments in the nine months to 30 September, against a charge of EUR 322m in 2017, after shipping loans were successfully restructured.
"Thanks to savings on the cost side, a solid business performance and restructuring successes in the ship loan portfolio, the high costs incurred in connection with the privatisation were offset in full," it said.
