German shipping lender Nord/LB is pulling out of ship financing as it looks to restructure with a capital injection of EUR 3.5bn ($3.9bn).
The bank hopes to push through a refinancing deal involving its state owners and the German Savings Banks Association (DSGV) in the third quarter.
It has been shedding non-performing loans (NPL) in shipping at a fast rate and has taken huge provisions on the maritime book in recent years.
