NORD/LB increases risk provisioning and
continues restructuring of the bank
- Risk provisioning further increased in order to be prepared for possible covid-19 effects
- Consolidated profit fall to minus 74 million euros
- Transformation process proceeding according to plan, costs already significantly reduced
- Negative annual result expected
In the first nine months of 2020, NORD/LB achieved a consolidated profit of minus € 74 million.
In the same period of the previous year, the Group's EBT amounted to € 215 million. NORD/LB again
significantly in-creased its risk provisioning in the third quarter in order to be prepared for
the real economic effects of the Corona pandemic.
Ladies and Gentlemen,
The coronavirus pandemic is causing major concerns worldwide.
That is why it is particularly important for us to inform you that we are
there for you even in these turbulent times. Both for your personal
concerns and for important business decisions you have to make.
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.
We will support you in securing
your entrepreneurial future.
NORD/LB’s individual financial concepts open up
new prospects for medium-sized companies.
As a corporate customer, we view you as a partner and,
accordingly, will provide you with reliable advice from a single source.
NORD/LB – your competent partner
for Infrastructure projects.
We have been actively financing infrastructure projects for over 20 years,
with a particular emphasis on the social infrastructure market.
Our technical expertise, combined with our focus on customer service,
make us an excellent partner.
Benefit from our access to money
and capital markets.
Nord/LB offers access to the money and capital markets for institutional
investors, savings banks and regional banks and aids issuers in the
placement of issues.
It develops individually tailored financial market solutions for:
Your partner for investment-type
products and financial solutions.
For 25 years, we have been working successfully as consultants and
financiers for businesses in the residential property sector, and today
we are among Germany’s leading financiers.
With detailed market knowledge and investment-type products,
we develop tailored, innovative financial solutions for you.