Carl I Duke of Braunschweig and Lüneburg founded the „Herzogliche Leyhaus“ on 9 March 1765 in Braunschweig. This bank was renowned into Braunschweigische Staatsbank in 1919. Therefore the Braunschweigische Staatsbank was the first public-law institution in the banking sector in Germany.


Business development and reconstruction after Seven Year`s War, debentures, government bond, long- and short-term corporate bonds, mortgage bonds and lots more.


Hannoversche Landeskreditanstalt was founded by the „Koeniglich Hannoverschen Regierung“ (Royal government) on 8 September 1840.


The bank focused on municipal lending in the agricultural sector to sponsor regional culture. The funding was done by issuing covered bonds and debentures.


The „Niedersächsische Wohnungskreditanstalt-Stadtschaft“ was founded by the „Niedersächsische Provinzialverband“ (insurance company).


Real estate finance by irredeemable amortizaion mortgages and bridge financing for new buildings. The funding was done by issuing covered bonds and debentures.


The Sparkassen-Girozentrale was founded on 5 October 1914.

The Landesbank of the province of Hanover started ist business on 1 January 1917. The Niedersächsische Landesbank-Girozentrale was etablished in 1933 after the merger of the former Girozentrale Hannover and the Landesbank of the province of Hanover.


Housebank of the state of Lower Saxony and the girocentre of the savings banks in Lower Saxony. In its house bank function the bank did all the business for its guarantors, municipalities and public-law institutes. Services for the savings banks were the cashless payment transactions, clearing, administration of the liquidity reserves and syndication lending.


NORD/LB has started its business on 1 July 1970.

It created out of the merger of four banks:

  • Niedersächsische Landesbank-Girozentrale
  • Braunschweigische Staatsbank
  • Hannoversche Landeskreditanstalt
  • Niedersächsische Wohnungskreditanstalt


NORD/LB Luxembourg S.A. was founded on 11 September 1972 in the Grand Duchy of Luxembourg. Since 1975 the bank is a 100% subsidiary of NORD/LB. The Bank has been called NORD/LB Luxembourg S.A. Covered Bond Bank since 2015.


Since 1937 NORD/LB and Bremer Landesbank are associated. Since then NORD/LB contniously raised its investment in Bremer Landesbank.

Due to the state treaty as at 21 December 1982 between the governments of Bremen and Lower Saxony Bremer Landesbank becomes part of the NORD/LB Group from 1983 on. The investment rose from 50 to 75 per cent at that time. NORD/LB’s stake in Bremer Landesbank has been 54.83 per cent since 2012.
As at 1 January 2017 NORD/LB is the sole guarantor of Bremer Landesbank (BLB) and holds 100 per cent of the share capital. The merger of BLB with NORD/LB took place on 31 August 2017.


NORD/LB`s London branch was established in Europe`s most important centre of finance.


NORD/LB opened up a further branch in New York, in one of the most improtant centres of finance in the world. There customers with business acivities in the US as well as in Germany are serviced.


Since the 1 April 1992, the signing day of the state treaty between the federal states of Lower Saxony and Saxony-Anhalt NORD/LB acts not only as a landesbank for both states but also as a giro centre for the savings banks of both states. Due to the extended business area NORD/LB has an additional head office in Magdeburg, beside Hanover and Braunschweig.


On 16 December 1992 a new state treaty between the federal states of Lower Saxony, Saxony-Anhalt and Mecklenburg Western-Pomerania was signed so that NORD/LB acts a landesbank for Mecklenburg Western-Pomerania since 3 January 1993. Once again an additional head office was established in Schwerin, beside the head offices in Hanover, Braunschweig and Magdeburg. NORD/LB was the first landesbank in three German federal states. Mecklenburg-Western Pomerania sold its stake in NORD/LB in July 2005.



The „NORD/LB∙Öffentliche“ foundation started on 1 July 1994. It helps providing culture, science, research and sports in the business area of NORD/LB and Öffentliche. The foundation has been called “Die Braunschweigische Stiftung” since 2015.


The new branch in Hamburg started its business activities in October 1994.


In November 1994 NORD/LB established a new branch in Singapore. From now on NORD/LB is also represented in Southeast Asia, one of the most strongest growing regions of the world.



NORD/LB rose its investment in Bremer Landesbank from 75 to 92.5 per cent.
NORD/LB’s stake in Bremer Landesbank has been 54.83 per cent since 2012.
As at 1 January 2017 NORD/LB is the sole guarantor of Bremer Landesbank (BLB) and holds 100 per cent of the share capital. The merger of BLB with NORD/LB took place on 31 August 2017.


NORD/LB opened up branches in Vilnius and Stockholm and a representative office in Beijing. As part of the sale of the joint venture bank DnB NORD in 2010, the former branches and subsequent subsidiaries in Vilnius and Stockholm also passed to DnB NORD. The Beijing representative office was closed in 2013.


Hanover based NORDCON Investment Management AG (2009 renamed in NORD/LB Asset Management Holding GmbH) was founded on 13 August 1999 and started its activities in July 2000. and focuses on mid- and large-size institutional clients.

Since 30 November 2018 NORD/LB Asset Management AG operates under the name of Warburg Invest AG.


In June 2002 NORD/LB inaugurated its new headquarters at Friedrichswall in Hanover.


NORD/LB received the permission to start business by the chinese regulatory authorities in April 2004. It opened up a branch in Shanghai.



In June 2005 Servicegesellschaft Kreditmanagement GmbH (SGK) was founded by NORD/LB, WestLB and japanese Shinsei Bank Ltd. Meanwhile SGK is a 100% subsidiary of NORD/LB.


In July 2005 a new state treaty and a new statute came into effect. Mecklenburg-Western Pomerania sold its stake in NORD/LB.


Copenhagen based Bank DnB NORD A/S started its operating business. Bank DnB NORD is a Joint Venture of NORD/LB and Norwegians largest financial group DnB NOR. DnB NORD profits from the expertise and strength of its parent companies as well as from close ties within the Baltic countries ( (Denmark, Finland, Estonia, Latvia, Lithuania and Poland).


Luxembourgian covered bond bank NORD/LB COVERED FINANCE BANK S.A. was founded in May 2006 as a 100% subsidiary of NORD/LB Luxembourg S.A. and is the centre of competence for international public finance within NORD/LB Group. The Bank has traded under the name NORD/LB Luxembourg S.A. Covered Bond Bank since 2015.



In May 2007 NORD/LB opened up representative offices in Moscow and Paris. The Moscow representative office was closed again in 2014.


NORD/LB representative office in Mumbai started its activities in December 2007. The representative office was closed again in 2013.



On 1 January 2008 Braunschweigische Landessparkasse (BLSK) started its business activities as an institute with partial legal rights within the NORD/LB Group. This conversion is an unique business model so far throughout the Savings Bank Network: As an integral part of the NORD/LB Group BLSK acts as a savings bank with close ties to the municipals and an own market presence.


Since 01 October 2008 Deutsche Hypothekenbank (Aktien-Gesellschaft) belongs to the NORD/LB Group. It is the centre of competence for the Commercial Real Estate Banking business.


NORD/LB sells its stake in joint venture Bank DnB NORD to the Norwegian majority stakeholder DnB NOR by the end of 2010.



On 10 July 2012 NORD/LB issued the world’s first Flugzeugpfandbrief. The Pfandbrief has a volume of €500 million and a term of five years. The advised benchmark volume of €500 million was more than twice oversubscribed in the order book within less than two hours.


NORD/LB issued a public US dollar Pfandbrief for the first time. The Pfandbrief has a term of three years and a volume of USD 1 billion. At more than USD 3 billion after just three hours, the advised benchmark volume of USD 1 billion was several times oversubscribed in the order book. In line with expectations, approx. 60 per cent of the volume was placed with qualified institutional investors in the USA.


NORD/LB opened a branch in Munich.



NORD/LB issued a securitisation tranche of an extensive credit portfolio comprising four asset classes from the books of NORD/LB. The Northvest transaction is a further component of NORD/LB’s capital-boosting strategy. With the issue the bank can reduce its risk-weighted assets by around €4 billion and release around €350 to 400 million of equity.


NORD/LB has issued a subordinated bond with a volume of USD 500 million. The tier-2 bond was issued in the Regulation S format in accordance with the US Securities Act and offered to investors outside of the United States of America. The fixed-interest-rate structure with a ten-year term with no termination option is the first bond of this type issued by a European issuer in this format.



NORD/LB celebrates its 250th birthday:
When the “Herzogliches Leyhaus” (Ducal lending house) was set up in 1765, its aim was to provide financial services to the local commercial sector. And this is still the case today, although much has changed: the “lending house” has become NORD/LB, an international commercial bank with strong regional roots. And still today the Bank’s business segments, business region and legal form are illustrative of its rich history.


After the merger of NORD/LB Luxembourg and the subsidiary NORD/LB Covered Finance Bank, the new bank will be called NORD/LB Luxembourg S.A. Covered Bond Bank with effect from 31 May 2015 and is a wholly owned subsidiary of NORD/LB. NORD/LB Luxembourg Covered Bond Bank is a specialist bank and issues Pfandbriefe under Luxembourg law (“Lettres de Gage”).


NORD/LB opened a branch in Stuttgart.


As at 1 January 2017 NORD/LB is the sole guarantor of Bremer Landesbank (BLB) and holds 100 per cent of the share capital. The merger of BLB with NORD/LB took place on 31 August 2017.

The fusion enables us to bundle our strengths and place our then united banks on a sustainably stable footing. The fusion brings operational advantages for both BLB and NORD/LB, for example in the implementation of the increasing regulatory requirements for banks. This enables us to invest or resources and capabilities more effectively in our core business areas and place our focus even more intensely on our customers. The existing contacts in Bremen and Oldenburg will still be available.


The takeover of the asset management activities of NORD/LB Norddeutsche Landesbank Girozentrale by M.M.Warburg & CO (AG & Co.) KGaA, which was agreed at the beginning of the year, was concluded on 30 November 2018. Warburg Invest KAG mbH and NORD/LB Asset Management AG operate jointly in a holding company. Following entry in the commercial register NORD/LB Asset Management AG operates under the name of Warburg Invest AG.



NORD/LB Norddeutsche Landesbank has successfully completed the sale of a €2.6bn shipping loan portfolio ("Big Ben" transaction) to an affiliate of Cerberus Capital Management, L.P., a global provider of alternative investments.


NORD/LB received on 23 December 2019 a cash capital injection to a total amount of €2.8 bn which was allocated to the share capital. The State of Lower Saxony participated in the cash capital injection to an amount of €1.5bn, Saxony-Anhalt to an amount of €198m, and Sparkasse-Finanzgruppe (Savings Banks Financial Group) to a total of €1.1bn. In addition, the State of Lower Saxony is implementing capital relief measures to an amount of €800m which primarily come from the takeover of guarantees for two of the bank's loan portfolios. Overall, this results in a total positive capital effect of around €3.6bn.

On 21 December, the new State Treaty on NORD/LB, signed by the States of Lower Saxony, Saxony-Anhalt and Mecklenburg-Vorpommern on 6 December, came into force.


On 21 January 2020 NORD/LB Luxembourg Covered Bond Bank successfully placed the world's first green covered bond under Luxembourg law on the capital market. The Lettre de Gage Renewable Energy represents a new Covered Bond category in which only renewable energy projects are included in the cover pool. The bond with a nominal volume of €300m €m has a term of five years. It has a coupon of 0.05% and was issued at 23 basis points over mid-swap. The order book was several times oversubscribed with total demand of more than €1.1bn.