Always in motion.
Q3 Results 2016
NORD/LB Norddeutsche Landesbank concluded the first nine months of financial year
2016 with a consolidated loss before taxes of EUR 624 million. After taxes, the consolidated
loss stood at EUR 736 million. This was mainly due to a further increase in risk provisioning
for ship finance. With this, the bank is reacting to the further intensification of the global
shipping crisis over the course of this year and responding to the lower forecasts from all
relevant institutions. A disproportionately high share of the risk provisioning is due to ship
finance provided by Bremer Landesbank (BLB). BLB will become a 100% subsidiary of
NORD/LB at the turn of the year, though its results are already fully incorporated in the
Group figures (as in previous years).
The interim report as at 30 September 2016 is available for download at the following link.
NORD/LB: The North German way.
NORD/LB is northern Germany‘s foremost universal bank. Some of its
divisions can already look back on a history spanning almost two and
a half centuries. Nevertheless, our company remains young in terms
of how it thinks and acts. Discover who we are and what we represent.
Who provides solutions that
meet your exact needs?
No two companies are the same – which is why our financing
concepts are a perfect fit when it comes to medium-sized
corporate clients. We provide you with specific solutions
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Get in touch with us to find out whether it makes sense for you
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