Lloyds Bank Looking to Sell Additional Shipping Loans -Sources

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February 13, 2014

reuters_logo1LONDON, Feb 13 (Reuters) – Lloyds Banking Group is looking to sell $500 million of shipping loans in what is likely to be the final big sale of loans from its ship finance portfolio as the British bank accelerates its exit from the sector and reduces capital exposure, trade finance and banking sources familiar with the matter said on Thursday.

The state-backed bank declined to comment.

Lloyds accelerated the sale of its shipping portfolio last year, and said in its results on Thursday it had sold 2.7 billion pounds ($4.48 billion) worth of shipping loans in 2013.

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