In a carefully orchestrated web meeting and presentation, DnB NOR ASA (“DnB”) responding to concerns about the quality of its shipping portfolio provided interested parties an opportunity to get a general picture of the portfolio and ask questions. Understandably, the bank had to balance the amount of disclosure against the possibility of the camel sticking his nose in the tent or, in today’s kids’ parlance, “TMI” (too much information).
DnB is rightfully proud of its global shipping portfolio which it describes as “..consisting of loans to the leading industrial players. These clients are characterized by extensive resources, a high level of fixed contracts on their vessels, strong equity and healthy liquid reserves. The credit quality of DnB Nor’s shipping portfolio, measured in terms of expected losses, is better than
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