German lender DZ Bank has confirmed it is considering "all options" for the future of its shipping subsidiary DVB.
It said it had "significantly increased allowances for losses on loans and advances in respect of DVB Bank’s maritime portfolio", as over-capacity continues to weigh on shipping.
These totalled EUR 786m ($970m) in 2017, from EUR 569m in 2016
DVB logged a pre-tax loss of EUR 774m for the year, against EUR 278m in 2016.
