Nordea’s shipping loan book shrank in the first quarter.
Gross loans to the sector decreased to €4.1bn ($4.6bn) from €4.2bn at the end of last year’s fourth quarter.
The total lending volume for Large Corporates & Institutions was €53.3bn.
Nordea’s chief executive Frank Vang-Jensen said: “In Large Corporates & Institutions, demand for our risk management and hedging solutions was very strong, though there was reduced appetite for bank financing.”
