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Offshore Finance – Portfolio

Thanks to our industry-specific expertise, our Offshore Finance division has continuously offered our clients integrated financing solutions and has thus been able to generate overall satisfactory financial results. Yet, in 2016, Offshore Finance was confronted once again with a demanding market situation which shaped its financial results.

Extract from Offshore Finance’s segment report as at 31 December 2016

€ mn 31 Dec 2016 31 Dec 2015 %
Net interest income 20.4 24.2 –15.7
Allowance for credit losses –65.0
Net interest income after allowance for credit losses –44.6
Net fee and commission income 7.6 11.5 –33.9
Total income (excluding the IAS 39 result) –37.5 18.3
General administrative expenses1) –3.1 –3.8 –18.4
Net segment income before taxes –40.4 14.7

1)Only those costs are allocated to DVB’s operating business divisions for which they are directly responsible. General costs of operations, overheads or, for example, IT costs, are not allocated to the operating business divisions.

As at 31 December 2016, DVB’s Offshore Finance division had a loan portfolio of €2.4 billion (31 December 2015: €2.4 billion). Since granularity in the portfolio is the key pillar of our risk management philosophy, our Offshore Finance portfolio is well diversified.

Offshore Finance portfolio by asset type as at 31 December 2016

Chart “DVB Bank's Offshore Finance portfolio as at 31 December 2016”
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