NORD/LB - One of the largest banks in Germany
NORD/LB is the leading universal bank in the north of Germany. As the Landesbank of Lower Saxony and Saxony-Anhalt, it supports the public sector in municipal financing and assumes the responsibilities of a central bank for the savings banks in these two states as well as Mecklenburg-Western Pomerania.
Some areas of NORD/LB look back on almost two and a half hundred years of history. Nonetheless, our company is young in thought and action. Here you will learn who we are and what we stand for.
In 1970, Norddeutsche Landesbank Girozentrale emerged from the merger of four predecessors: Braunschweigische Staatsbank, Hannoversche Landeskreditanstalt, Niedersächsische Landesbank Girozentrale and Niedersächsische Wohnungskreditanstalt Stadtschaft.
Group figures at a glance
The most significant banks in the NORD/LB Group consist of NORD/LB, Bremer Landesbank, Norddeutsche Landesbank Luxembourg S.A. and Deutsche Hypothekenbank AG.
Investments and subsidiaries
Banking is currently in a dynamic phase of reorientation. With rising expectations and responsibilities, the significance of suitable, competent partners is increasing in order to successfully confront the growing challenges.
Landesbank for Saxony-Anhalt
In 1992, NORD/LB assumed the role of Landesbank for Saxony-Anhalt as part of a state agreement between Lower Saxony and Saxony-Anhalt.
NORD/LB is the Landesbank in Lower Saxony and Saxony-Anhalt and is represented there with its main registered offices and branches. As an internationally operating commercial bank, NORD/LB also has offices in all significant financial and trading centres such as London, New York, Singapore and Shanghai.
Group results for 3Q 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).