The biggest Nordic bank saw its shipping loan book shrink in the first half of the year.

Nordea’s loans to the sector dropped to €4.2bn ($4.6bn) from €4.7bn at the end of 2023, according to the quarterly report of the Helsinki-based bank.

Chief executive Frank Vang-Jensen said: “In large corporates and institutions we kept up the good momentum from the first quarter, actively supporting our Nordic customers with their investment plans.