Norway’s largest bank, DNB Bank ASA, reported that its shipping loan book increased in the fourth quarter of 2025, signaling renewed credit momentum in the maritime sector even as global economic uncertainties persist.
According to TradeWinds, DNB’s shipping lending exposure climbed to approximately NOK 40.5 billion (about $4.2 billion) at the end of December, up from the preceding quarter. This marks a notable rise following a period of contraction earlier in the year, when shipping loans trended lower at the end of the third quarter.
CEO Kjerstin Braathen highlighted overall strong customer activity across segments in the final quarter, with broad lending growth reflecting robust demand and confidence among corporate clients.
DNB’s overall lending portfolio expanded in the fourth quarter, with profitable loan growth reported across all major customer segments, contributing to a 4.9 % year-on-year increase in total lending by year-end. While the bank has navigated geopolitical headwinds and interest rate shifts, its credit quality remained resilient and supported by diverse business lending.
Growth in shipping loans comes as global trade and freight markets adjust to post-pandemic dynamics and supply chain pressures, making bank financing an important part of capital deployment for shipowners. Analysts view the increased shipping exposure as a signal that DNB is supporting maritime clients’ investment needs while balancing risk in a cyclical sector.
Market participants will watch how DNB’s shipping book evolves in 2026, especially against continued volatility in freight rates and costs tied to geopolitical risk.