FRANKFURT, April 10 HSH Nordbank
expects to return to profit this year after seeing its loss
widen to 814 million euros ($1.13 billion)in 2013 as the
shipping crisis weighed on the troubled German public-sector
Provisions for bad loans - mainly ship loans - increased 34
percent to 882 million euros, HSH said in a statement on
Thursday, adding it now does not expect the shipping industry to
recover before 2015.
The bank also said it will need to make use of 1.6 billion
euros of guarantees it received from it public owners in the
financial crises, 300 million more than planned until now.
HSH's core tier 1 capital ratio stood at 11.7 percent at the
end of 2013 versus 9.9 percent in 2012.
($1 = 0.7234 Euros)
(Reporting by Arno Schuetze; Editing by Victoria Bryan)