Greek shipping still coming to terms with sale of whale lender

Greek shipping is still coming to terms with the takeover of its largest lender.

The swift buyout of troubled Credit Suisse by compatriot bank UBS on Sunday has left many questioning what the future holds for the enlarged bank’s shipping interests.

Credit Suisse has been the largest bank financier for Greek shipping since 2016, its Greek portfolio worth $5.2bn as of May last year, according to data from Athens-based Petrofin Research. Globally, Credit Suisse is the 10th largest shipping bank, according to Petrofin data, with a total portfolio estimated at $10bn, while UBS has a small $200m exposure to the shipping sector.


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