EnergyWatch

Scandinavian banks still weighed down by oil sector

Nordea and Danske Bank once more had to impair their loans to shipping and oil. Problems in the oil sector, which seems to be recovering, were a major factor weighing the banks down in the second quarter 2017.

Nordea CEO Casper von Koskull. | Photo: Jens Henrik Daugaard

The problems in the oil sector continue to trouble the major Scandinavian banks.

Though things have somewhat brightened for the strained sector, oil companies still account for a significant part of Nordea and Danske Bank's impairments, as evident from the two banks' second quarter interim reports, published Thursday.

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