Privatised German lender Hamburg Commercial Bank (HCOB) saw shipping earnings dwindle and loan losses rise in a turbulent year.
The former HSH Nordbank said its shipping segment contributed net income before taxes and risk provisions of €10m ($11.8m), down from €47m in 2019.
But operating margins developed solidly, the lender said.
The overall loan loss was €188m, deeper than the €11m reported the year before.
