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Shipping Finance – Portfolio

Thanks to our specialist and in-depth expertise, our Shipping Finance division continuously provides our clients with customised financing – not only in a good but also in a challenging market environment.

Extract from Shipping Finance’s segment report as at 30 Jun 2016

€ mn 30 Jun 2016 30 Jun 2015 %
Net interest income 61.5 42.5
Allowance for credit losses –52.8 –26.7 97.8
Net interest income after allowance for credit losses 8.7
Net fee and commission income 15.5
Total income (excluding the IAS 39 result)1) 24.5
35.3 –30.6
General administrative expenses1) 2) –12.1 –17.1 –29.2
Net segment income before IAS 39, bank levy, BVR Deposit Guarantee Scheme and taxes1) 12.4 18.2 –31.9
Net segment income before bank levy, BVR Deposit Guarantee Scheme and taxes1) 13.3 10.1 31.7

1) Adjustment of the previous year's figure due to an error correction in accordance with IAS 8.41

2) 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 30 June 2016, our Shipping Finance division had a loan portfolio of €11.2 billion (31 December 2015: €11.8 billion). Diversification and granularity in the portfolio are key pillars of our risk management philosophy: the Shipping Finance portfolio is thus well diversified across the shipping spectrum, in terms of sector/subsector, asset, geographic exposure, client concentration and types of financing. Additionally, based on Shipping Research’s input, the portfolio is managed away from perceived higher risk areas.

Shipping Finance portfolio by vessel type as at 30 Jun 2016

DVB Bank's Shipping Finance portfolio by vessel types as at 30 June 2016
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