News

On this page you will find the publications on four topics:

  • EU and EBA publications,
  • publications on the subject of rating,
  • publications of insider information pursuant to Article 17 of Regulation (EU) No. 596/2014,
  • publications from the former Bremer Landesbank and
  • publications of Deutsche Hypothekenbank.

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EU- and EBA-Publications

Information on the EU-wide Transparency Exercise December 2020

On 11 December 2020, the European Central Bank (ECB) and the European Banking Authority (EBA) published the EU-wide transparency exercise with information as at 31 March 2020 and 30 June 2020.

The documents on NORD/LB can be found here...


Information on the EU-wide Transparency Exercise Spring 2020

The European Central Bank (ECB) and the European Banking Authority (EBA) published the EU-wide Transparency Exercise on 8 June 2020. At its meeting in April 2020, the EBA Board of Supervisors approved the package for the additional transparency exercise in spring 2020. Similar to the annual transparency exercise, this exercise is based solely on COREP/FINREP data. The objective is to provide market participants with a sufficient and appropriate level of information on the financial conditions of EU banks as at 31 December 2019, i.e. before the COVID 19 crisis starts.

The documents on NORD/LB can be found here...


Information on the 2019 EU-wide Transparency Exercise

The European Central Bank (ECB) and the European Banking Authority (EBA) will publish the EU-wide Transparency Exercise 2019 on 29 November 2019. At its meeting in April 2019, the EBA Board of Supervisors approved the documents for the EU-wide transparency exercise 2019, which has been conducted annually since 2016 and the results of which are published together with the Risk Assessment Report (RAR). The annual transparency review is based exclusively on COREP/FINREP data, the form and content of which ensure sufficient and adequate information for market participants.

The documents on NORD/LB can be found here...


NORD/LB’s EBA stress test 2018 results

Hannover, 2 November 2018: Stress test confirms the capital-strengthening programme of NORD/LB and its owners

  • Result “in line with expectations”, marked by a low baseline
  • NORD/LB midfield among German banks in terms of stress-test effect
  • Bank continues strategy of boosting capital, reducing NPLs and transforming the Group
  • Tender process for investors on schedule and very promising

Please find NORD/LB’s results by following this link
EBA stress test

Please find the resp. press release by following this link
NORD/LB press release

Rating Publications

Moody’s released a new rating methodology

Hannover, 1 August 2018: On 1 August 2018 Moody’s released a new rating methodology for banks. This change in methodology was caused by the implementation of the Bank Recovery and Resolution Directive (BRRD) into German law.

Please find further details in the attached
Investor Relations News


Moody’s downgrades NORD/LB’s rating to “Baa3”

Hannover, 30 June 2017: On 30 June 2017 Moody's Investors Service concludes the “Review for Downgrade” open on 18 April 2017 and downgrades NORD/LB's long-term debt rating to “Baa3” from „Baa2”.

The outlook changes from „Review for Downgrade“ to „negative“  The reason for that was the deterioration of the Baseline Credit Assessment from von „b1“ to „b2“.

Following the downgrade for NORD/LB's issuer rating from Baa2 to Baa3 on 30 June 2017 Moody's Investors Service also downgrades NORD/LB's Pfandbrief ratings according to its methodology by one notch. The ratings for the Public-Sector Pfandbriefs and Mortgage Pfandbriefs fell from "Aaa" to "Aa1". The rating for the Aircraft Pfandbriefs has already been downgraded from "A2" to "A3" on 5 July 2017.

Please find further details in the attached
Investor Relations News


Moody´s downgrades NORD/LB´s Pfandbrief rating to "Aa1"

Hannover, 11. August 2017: Following the downgrade for NORD/LB´s issuer rating from Baa2 to Baa3 on 30 June 2017 Moody´s Investor Service also downgrades NORD/LB´s Pfandbrief ratings according to its methodology by one notch. The ratings for Public-Sector Pfandbriefs and Mortgage Pfandbrief´s fell from "Aaa" to "Aa1". The rating for the Aircraft Pfandbriefs had already been downgraded from "A2 to "A3" on 5 July 2017. In contrast to the issuer rating Moody´s does not provide an explicit outlook on Pfandbrief ratings.

Please find further details in the attached
Investor Relations News

Insider Publications

Public disclosure of inside information pursuant to Article 17 of Regulation (EU) No. 596/2014

Norddeutsche Landesbank – Girozentrale – :
Implementing the planned capital measures will only be possible in the 4th quarter of 2019

Hanover, 22 August 2019:
Norddeutsche Landesbank Girozentrale (“NORD/LB”), its owners – the state of Lower Saxony, the state of Saxony-Anhalt (together, the “States”), the Savings Banks Association of Lower Saxony (Sparkassenverband Niedersachsen) and the Savings Banks Holding Association in Saxony-Anhalt (Sparkassenbeteiligungsverband Sachsen-Anhalt) and the Special Purpose Holding Association of the Savings Banks in Mecklenburg-Western Pomerania (Sparkassenbeteiligungszweckverband Mecklenburg-Vorpommern) (together with the States, the “Owners”) – as well as the Savings Banks Finance Group (Sparkassenfinanzgruppe) have reached agreement on all material points regarding the bank’s realignment and the implementation of the planned capital measures. In this context, NORD/LB, its Owners and the Savings Banks Finance Group are in close contact with the relevant supervisory authorities and the EU Commission on an ongoing basis.

In the course of these consultations with the relevant supervisory authorities it became clear today that, due to the complexity of the proceedings and mutual interdependencies, due to the necessity of consent by the EU Commission, which has not yet been granted, due to the necessity of parlamentary proceedings in the States and also due to the steps required with respect to the regulatory proceedings, the implementation of the capital measures previously envisaged for the 3rd quarter of 2019 may only be effected in the 4th quarter of 2019.

NORD/LB is in close contact with the relevant supervisory authorities on an ongoing basis also with respect to this adjustment of the previous timing and the resulting delay in implementing the capital measures.

On this basis, taking into account the continuous progress made in the overall process of realigning NORD/LB, NORD/LB’s Management Board expects that the capital injection and the implementation of further capital measures will be effected in the 4th quarter of 2019.

By implementing these capital strengthening and realignment measures, the capital ratios of NORD/LB currently failing to meet the regulatory minimum requirements will significantly increase and comply with all regulatory requirements.


Norddeutsche Landesbank - Girozentrale -
Friedrichswall 10
30159 Hanover
Germany

A complete overview of outstanding securities issued by NORD/LB is available at the website of NORD/LB - at:
>https://www.nordlb.de/kapitalmarktportal/endgueltige-bedingungen/


Ad hoc announcement of inside information according to Art. 17 of Regulation (EU) No. 596/2014

Norddeutsche Landesbank – Girozentrale –:
Agreement on basic features of capital plan and future business model of NORD/LB.
Possible balance sheet loss in 2019 due to high planned restructuring costs.

Hanover, 3 April 2019:
The board and representatives of the owners (Träger) of Norddeutsche Landesbank Girozentrale ("NORD/LB") - the State of Lower Saxony, the State of Saxony-Anhalt (together the "States"), the Association of the Savings Banks of Lower Saxony (Sparkassenverband Niedersachsen) as well as the Holding Association of the Savings Banks of Saxony-Anhalt (Sparkassenbeteiligungsverband Sachsen-Anhalt) and the Special Purpose Holding Association of the Savings Banks of Mecklenburg-Western Pomerania (Sparkassenbeteiligungszweckverband Mecklenburg-Vorpommern) (together referred to with the States as the "Owners") – agreed on the basic features of a capital plan and the future business model of NORD/LB, which they presented to the relevant authorities in more detail at a meeting today. The supervisory authorities have taken note of this as basis for further considerations.

The plan is to strengthen NORD/LB's capital ratios by a capital injection of EUR 2.835 billion, in which the States of Lower Saxony and Saxony-Anhalt contribute a total of EUR 1.7 billion. According to current discussions, EUR 1.135 billion of the capital injection is to be made by the DSGV and the savings banks which are currently owners of NORD/LB (Trägersparkassen). It is planned that the State of Lower Saxony will also implement additional capital-relieving measures of up to EUR 800 million, which would result in a positive overall capital effect of up to EUR 3.635 billion.

The capital plan, together with the new business model, shall be further detailed following today's meeting with the supervisory authorities and submitted to the supervisory authorities in a timely manner. All capital measures described, as well as the business model, are still subject to the approval of the bank's committees, the Owners and the DSGV, as well as the supervisory authorities. The measures are also subject to approval by the EU Commission, with which the bank and its Owners continue to be in close contact, and which will carry out an assessment under state aid law. It is planned to implement the agreed capital measures in the third quarter of 2019 at the latest. With the implementation of these measures for capital strengthening and realignment, capital ratios will again increase significantly and comply with all regulatory requirements.

The basis for the capital measures is a restructuring of NORD/LB with corresponding changes in its business model, the details of which will be further developed in the coming months between the Owners, the DSGV and the board of NORD/LB. At this stage, the parties have agreed on the following key points:

NORD/LB will operate as a Landesbank und Girozentrale with a regional focus of its operations. In connection with the downsizing process, the balance sheet total will be reduced perspectively to approximately EUR 95 billion.

In order to achieve this, the Owners and the DSGV are primarily planning the following measures:

NORD/LB will withdraw from the ship loan business during this year. The non-performing ship loan portfolios which have not been sold remain at NORD/LB and are being gradually reduced. In this context, the State of Lower Saxony provides a guarantee as security.

As of today, the Braunschweigische Landessparkasse remains part of NORD/LB. Likewise, as of today, the Deutsche Hypothekenbank (Actien-Gesellschaft) remains a wholly-owned subsidiary of NORD/LB. A separation from NORD/LB of the Förderinstitute and public shareholdings (öffentliche Beteiligungen) will be examined.

As of today, all other business segments are to remain in NORD/LB in a downsized manner.

As the restructuring of the business model and the reduction of the balance sheet are expected to incur high restructuring costs, as of today NORD/LB's board expects that the 2019 financial year will be concluded at a loss.
Like the capital measures outlined above, decisions on the bank's future business model are subject to various committee and parliamentary decisions. They are also subject to approval by the EU Commission and are closely coordinated with the bank's relevant supervisory authorities.


Norddeutsche Landesbank - Girozentrale -
Friedrichswall 10
30159 Hanover
Germany

A complete overview of outstanding securities issued by NORD/LB is available at the website of NORD/LB - at:
>https://www.nordlb.de/kapitalmarktportal/endgueltige-bedingungen/


Ad hoc announcement of inside information according to Art. 17 of Regulation (EU) No. 596/2014

Norddeutsche Landesbank - Girozentrale -:
Owners (Träger) of NORD/LB decide to focus on a joint solution with the DSGV in the public sector.

Risk provisions in connection with a significant ship financing portfolio transaction lead to an annual loss and a temporary decrease in capital ratios.

Hannover, 2 February 2019:

At today's meeting of the owners (Trägerversammlung) of Norddeutsche Landesbank – Girozentrale – ("NORD/LB") - the State of Lower Saxony, the State of Saxony-Anhalt, the Association of the Savings Banks of Lower Saxony (Sparkassenverband Niedersachsen) as well as the Holding Association of the Savings Banks of Saxony-Anhalt (Sparkassenbeteiligungsverband Sachsen-Anhalt) and the Special Purpose Holding Association of the Savings Banks of Mecklenburg-Western Pomerania (Sparkassenbeteiligungszweckverband Mecklenburg-Vorpommern) (together referred to as the "Owners" (Träger)) –, the Owners decided, following a detailed evaluation of a joint bid by two financial investors submitted as part of a bidding process, to postpone this option for the time being and to focus on a joint solution with the German Savings Banks and Giro Association (Sparkassen- und Giroverband e.V.) ("DSGV") in the public sector.

After representatives of the DSGV and the Owners have discussed the key points of this proposed solution for the capital strengthening and realignment of the bank with the relevant supervisory authorities on 1 February 2019, this solution will be specified in further meetings with the DSGV and must be discussed with the relevant supervisory authorities as well as the EU Commission under aspects of State Aid Law.

In light of these forthcoming measures to strengthen the capital base of the bank, the management board of NORD/LB and its Owners have decided in their today's meetings to transfer a significant part of the ship financing portfolio of NORD/LB in a volume of approximately EUR 2.7 billion to an external investor by way of a portfolio transaction. This portfolio contains approximately 90 % of non-performing loans ("NPL").

In addition, the management board of the bank has decided to create a comprehensive additional risk provision for the entire NPL portfolio for the 2018 financial year, resulting in a total risk provision for the 2018 financial year of up to EUR 2.5 billion.

Based on the currently available figures for the 2018 financial year, this will result in an annual loss for the NORD/LB group of approximately EUR 2.7 billion after tax. The result in accordance with HGB (German Commercial Code (Handelsgesetzbuch)) for the 2018 financial year will show an annual loss of approximately EUR 2.5 billion after tax.

The aforementioned loss for the 2018 financial year will have a corresponding effect on the capital ratios in such a way that the common equity tier 1 capital ratio will decrease to about 6 to 6.5 % and thus the thresholds required by supervisory law will temporarily not be met. The supervisory authority has been informed about this and will request a specific capital plan from NORD/LB in the coming weeks. NORD/LB will draw up such a capital plan on the basis of today's resolution by the Owners with regard to the DSGV's proposed solution and assumes that with the implementation of the measures contained therein for the capital strengthening and realignment of the bank, the capital ratios will again increase significantly and meet all regulatory requirements.

Norddeutsche Landesbank - Girozentrale -
Friedrichswall 10
30159 Hannover
Deutschland

A complete overview of outstanding securities issued by NORD/LB is available at the website of NORD/LB - at:
>https://www.nordlb.de/kapitalmarktportal/endgueltige-bedingungen/


Ad hoc announcement of inside information according to Art. 17 of Regulation (EU) No. 596/2014

Norddeutsche Landesbank - Girozentrale -:
Representatives of the holders (Träger) of NORD/LB welcome the solution proposed by the DSGV to cover capital requirements

Hannover, 31 January 2019:

The German Savings Banks and Giro Association (Sparkassen- und Giroverband e.V.) ("DSGV") declared today, that the responsible bodies of the Savings Banks Finance Group (Sparkassen-Finanzgruppe) had agreed at a general meeting unanimously on a proposed solution to cover the capital requirements and the associated reorganisation of Norddeutsche Landesbank – Girozentrale – ("NORD/LB").

The representatives of the holders (Träger) of NORD/LB declared at their meeting on 31 January 2019, that they welcome the DSGV's proposal for a solution to strengthen the capital and the realignment of the bank and expressed their support to prioritise this proposal.

Following coordination with the relevant supervisory authorities, the bank's responsible bodies, in particular the holders meeting (Trägerversammlung), will decide on the next steps in a timely manner.

Subsequently, the concrete details of the measures for the capital strengthening and realignment are to be determined as well as further coordination with the EU Commission and the relevant supervisory authorities is necessary.

Norddeutsche Landesbank - Girozentrale -
Friedrichswall 10
30159 Hannover
Deutschland

A complete overview of outstanding securities issued by NORD/LB is available at the website of NORD/LB - at:
>https://www.nordlb.de/kapitalmarktportal/endgueltige-bedingungen/


Ad hoc announcement of inside information according to Art. 17 of Regulation (EU) No. 596/2014

Hannover, 3 December 2018: Norddeutsche Landesbank Girozentrale: Status of bidding process / Reduction of NPL Shipping Portfolio

On 28 November 2018, Norddeutsche Landesbank Girozentrale, Hanover ("NORD/LB") received four offers for investor participations in NORD/LB in connection with a bidding process initiated at the end of September to evaluate NORD/LB's options to strengthen its capital basis.

Following an initial analysis of the received bids, NORD/LB's holders (Träger) have decided today, 3 December 2018, to conduct follow-up discussions with such bidders concerning important framework conditions. Subsequently one or more bidders will be chosen to carry on further in-depth negotiations. In addition, other options will be discussed based on previous conversations. Due to the complexity and different strategic directions of the bids, a final decision in favour of one of the options may only be made at the beginning of next year in close cooperation with the supervisory authorities.

In addition, NORD/LB continues to work on the thorough reduction of its NPL Ship Financing Portfolio. In this context, the progress regarding the reduction of this portfolio before the implementation of options to strengthen NORD/LB's capital basis may lead to a temporary decrease of capital ratios and a potential balance sheet loss.

Norddeutsche Landesbank - Girozentrale -
Friedrichswall 10
30159 Hannover
Deutschland

A complete overview of own issuances by NORD/LB can be found on the website of the NORD/LB in the capital markets portal under::
>https://www.nordlb.de/kapitalmarktportal/endgueltige-bedingungen/


Publication of Inside Information pursuant to Art. 17 MAR

Resolution in principle of the Management Board of NORD/LB regarding the legal integration of Bremer Landesbank Kreditanstalt Oldenburg Girozentrale

Hannover, 06 April 2017: The Management Board of Norddeutsche Landesbank – Girozentrale – (“NORD/LB”) has resolved to strive for a merger between Nord/LB and Bremer Landesbank Kreditanstalt Oldenburg Girozentrale within this calendar year and to initiate all necessary steps in such respect.

Norddeutsche Landesbank - Girozentrale -
The Management Board
Norddeutsche Landesbank – Girozentrale –
Friedrichswall 10
30159 Hannover
Germany

Contact:
Norddeutsche Landesbank – Girozentrale –
Investor Relations
Gabriele Bödeker
Tel.: +49 511 361-4338
Mail: ir@nordlb.de

ISIN: DE000NLB8KA9

Stock Exchanges: Hannover (Regulated Market) and Frankfurt (Regulated Market)

A complete overview of own issuances by NORD/LB can be found on the website of the NORD/LB in the capital markets portal under:
>https://www.nordlb.de/kapitalmarktportal/endgueltige-bedingungen/

Publications of Bremer Landesbank

Public disclosure of inside information pursuant to Article 17 MAR

The Management Board of Bremer Landesbank decided to cancel, at the next Interest Payment Date, all payment of interest on the AT1 Notes forming part of the own funds.

Bremen, 20 June 2017: With respect to the notes issued by Bremer Landesbank Kreditanstalt Oldenburg -Girozentrale- (“BLB”) as “EUR 50,200,000 Perpetual Non-cumulative Fixed to Reset Rate Additional Tier 1 Notes of 2015” (ISIN: DE000BRL00A4, WKN: BRL 00A) and as “EUR 100,000,000 Perpetual Non-cumulative Fixed to Reset Rate Additional Tier 1 Notes of 2015” (ISIN: DE000BRL00B2, WKN: BRL 00B) (together the “AT1 Notes”) forming part of BLB's own funds the Management Board (Vorstand) of BLB decided today, by exercising its sole discretion pursuant to § 3 (8) (a) of the relevant terms and conditions of the AT1 Notes, to cancel all payment of interest on the AT1 Notes for the current Interest Period at the next Interest Payment Date on 29 June 2017.

Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -
The Management Board (Vorstand)
Bremer Landesbank Kreditanstalt Oldenburg- Girozentrale -
Domshof 26
28195 Bremen
Germany

Contact:
Fred Walther, Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -, Investor Relations, Tel.: +49 421 332 2453 E-Mail:
investor-relations@bremerlandesbank.de, Fax: +49 421 332 2649

ISIN: DE000BRL00A4
Listed: Regulated market of the Luxembourg Stock Exchange (Bourse de Luxembourg)


Public disclosure of inside information pursuant to Article 17 MAR

Resolution in principle of the Management Board of NORD/LB regarding the legal integration of Bremer Landesbank

Bremen, 06.04. 2017: The Management Board (Vorstand) of Bremer Landesbank Kreditanstalt Oldenburg   Girozentrale   (“BLB”) has been informed today of a management board resolution of NORD/LB Norddeutsche Landesbank - Girozentrale  (“NORD/LB”) of the same day pursuant to which a merger between NORD/LB and BLB is being pursued this year and all steps necessary to this effect shall be taken.

Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -
The Management Board (Vorstand)
Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -
Domshof 26
28195 Bremen
Germany

Contact:
Fred Walther, Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -, Investor Relations, Tel.: +49 421 332 2453 E-Mail:
investor-relations@bremerlandesbank.de, Fax: +49 421 332 2649

ISIN: [DE000BRL9774]
Listed: Hamburg Stock Exchange – Regulated Market


Public disclosure of inside information pursuant to Article 17 MAR

Bremer Landesbank estimates the loss according to IFRS for the financial year 2016 to amount to approximately 1.4 billion Euros due to further increased risk provisioning in its portfolio of shipping loans.

Bremen, 9 March 2017: On the basis of an updated assessment as of today, the Management Board (Vorstand) of Bremer Landesbank Kreditanstalt Oldenburg ‑ Girozentrale - ("BLB") estimates the pre-tax loss according to IFRS for the financial year 2016 to amount to approximately 1.4 billion Euros, which is therewith higher than previously expected. The reason for the higher loss is the further increased risk provisioning in its portfolio of shipping loans in the aggregate amount of now around 1.6 billion Euros for 2016.

As of 1 January 2017, NORD/LB Norddeutsche Landesbank Girozentrale ("NORD/LB") acquired all shares in BLB. In connection with this acquisition, NORD/LB and BLB entered into a controlling agreement, pursuant to which NORD/LB is required to compensate BLB for any annual deficit as from the financial year 2017, to the extent this deficit is, following a decision of the Owners' Meeting (Trägerversammlung) of BLB, not compensated by means of a withdrawal from other retained earnings. Further, NORD/LB issued a letter of comfort to BLB pursuant to which NORD/LB provides that BLB is in a position to meet its obligations. On 19 January 2017, an application with the European Central Bank has been filed by BLB to obtain a so-called waiver from the application of certain regulatory requirements in respect of BLB's own funds in accordance with article 7 of the capital requirements regulation (CRR). Currently, an increase of the capital by NORD/LB as well as further measures to stabilize the capital ratios are being prepared.

Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -
The Management Board (Vorstand)
Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -
Domshof 26
28195 Bremen
Germany

Contact:
Fred Walther, Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -, Investor Relations, Tel.: +49 421 332 2453 E-Mail: >investor-relations@bremerlandesbank.de, Fax: +49 421 332 2649

ISIN: [DE000BRL9774]
Listed: Hamburg Stock Exchange – Regulated Market


Public disclosure of inside information pursuant to Article 17 MAR

BLB: Control agreement with NORD/LB due to anticipated risk provisioning

Bremer Landesbank expects a loss according to IFRS in the amount of a high three-digit million figure due to a high risk provisioning in its portfolio of shipping loans. Conclusion of a controlling agreement with NORD/LB and application for ECB waiver from certain own funds requirements scheduled for 2017.

Bremen, 23 November 2016: On the basis of a planning resolved upon today, the Management Board (Vorstand) of Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale - ("BLB") expects, for the entire financial year 2016, a loss according to IFRS in the amount of a high three-digit million figure. The reason for the loss is the high risk provisioning in its portfolio of shipping loans in the amount of around one billion Euros.

In connection with the envisaged takeover of all shares in BLB by NORD/LB Norddeutsche Landesbank Girozentrale, the Owners' Meeting (Trägerversammlung) of BLB will, on 2 December 2016, decide on the conclusion of a controlling agreement with effect as from 1 January 2017 between NORD/LB as controlling entity and BLB as controlled entity. In case of the conclusion of the controlling agreement, NORD/LB would be under the obligation to compensate BLB for any annual deficit, to the extent this deficit is, following a decision of the Owners' Meeting of BLB, not compensated by means of a withdrawal from other retained earnings. In this context, following the conclusion of a controlling agreement, it is furthermore envisaged to file an application with the European Central Bank for a waiver from the application of certain regulatory requirements in respect of BLB's own funds in accordance with article 7 of the capital requirements regulation.

Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -
The Management Board (Vorstand)

Contact:
Fred Walther, Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -, Investor Relations, Tel.: +49 421 332 2453 E-Mail:
investor-relations@bremerlandesbank.de, Fax: +49 421 332 2649

ISIN: DE000BRL9774
Listed: Hamburg Stock Exchange – Regulated Market


Ad-hoc-announcement pursuant to § 15 WpHG

Bremer Landesbank expects a significantly negative annual result due to high value adjustments in its portfolio of shipping loans

Bremen, 2 June 2016: As a result of the persistently difficult market conditions in the area of ship financing, the management board of Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale - ("Bremer Landesbank") expects on the basis of a forecast as of 2 June 2016 that, as per 30 June 2016, the bank has to undertake in its portfolio of shipping loans in this form so far unplanned value adjustments which, for the bank as a whole, will amount to in total approximately EUR 400 million. For the entire financial year 2016, Bremer Landesbank expects so far unplanned value adjustments in its portfolio of shipping loans in the amount of a high three-digit million figure. Hereby, Bremer Landesbank reacts to its changed assessment of the market for ship financing which Bremer Landesbank does not expect to significantly recover in the mid-term.

Bremer Landesbank currently estimates that the need for unanticipated high value adjustments will, in its consolidated financial statements according to IFRS as of 31 December 2016, likely result in an annual loss in the amount of a mid three-digit million figure. Bremer Landesbank currently has – as shown in its individual annual accounts as of 31 December 2015 – capital and profit reserves, which count as equity, in the amount of in total EUR 1.078 billion, and a fund for general banking risks pursuant to § 340g HGB in the amount of EUR 589 million, both of which would, as of now, be available to absorb the expected annual loss. Measures to strengthen Bremer Landesbank's equity have been initiated.

Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -
The Management Board (Vorstand)
Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -
Domshof 26
28195 Bremen
Germany

Contact:
Fred Walther, Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -, Investor Relations, Tel.: +49 421 332 2453 E-Mail: investor-relations@bremerlandesbank.de, Fax: +49 421 332 2649

ISIN: DE000BRL9774
Listed: Hamburg Stock Exchange – Regulated Market

Publications od Deutsche Hypo

Deutsche Hypothekenbank (Actien-Gesellschaft): Resolution of the Owners' Meeting of NORD/LB on the complete legal integration of Deutsche Hypo

14-Dec-2020 / 22:00 CET/CEST

The Owners' Meeting of Norddeutsche Landesbank Girozentrale - NORD/LB - and the Annual General Meeting of its wholly-owned subsidiary Deutsche Hypothekenbank (Actien-Gesellschaft) - Deutsche Hypo - decided at their respective meetings on 14 December 2020 that Deutsche Hypo should be fully integrated into NORD/LB. Following the integration, the financing of commercial real estate will remain a central pillar of the business model of NORD/LB - the brand Deutsche Hypo will still be used in the future.

The integration of Deutsche Hypo into NORD/LB will take place by way of a merger on the basis of a merger agreement in accordance with 16 para. 1 clause 2 of the State Treaty between the Federal State of Lower Saxony, the Federal State of Saxony-Anhalt and the Federal State of Mecklenburg-Western Pomerania via Norddeutsche Landesbank - Girozentrale - dated 6 December 2019 (Nds. GVBl. No. 23/2019, p. 399) in conjunction with sections 2 et seq., 60 et seq. of the German Transformation Act (Umwandlungsgesetz).

The merger is expected to be completed on 30 June 2021, by entry in the commercial register. When the merger takes effect, all of Deutsche Hypo's liabilities from outstanding securities will be transferred to NORD/LB by way of legal succession.

Deutsche Hypothekenbank (Actien-Gesellschaft): Possible change in the management board

19-May-2020 / 16:09 CET/CEST

The chairman of the supervisory board of Deutsche Hypothekenbank (Actien-Gesellschaft), Mr. Thomas Bürkle, and the member of the management board of the company, Mrs. Sabine Barthauer, will now commence negotiations regarding the upcoming change from Mrs. Barthauer to DZ Hyp AG in view of a possible premature termination of Ms. Barthauer board position. The supervisory board of Deutsche Hypothekenbank (Actien-Gesellschaft) has not yet discussed and decided on this matter.

Deutsche Hypothekenbank (Actien-Gesellschaft): Implementing the planned capital measures at NORD/LB will only be possible in the 4th quarter of 2019

22-Aug-2019 / 20:24 CET/CEST

Deutsche Hypothekenbank (Actien-Gesellschaft) is a wholly-owned subsidiary of Norddeutsche Landesbank - Girozentrale ("NORD/LB") and is closely linked to its parent company by a control and profit and loss transfer agreement and a waiver rule in accordance with Art. 7 (1) CRR and Section 2a (1) of the German Banking Act (KWG). On 22 August 2019 NORD/LB published the following ad hoc announcement:

"Norddeutsche Landesbank Girozentrale ("NORD/LB"), its owners - the state of Lower Saxony, the state of Saxony-Anhalt (together, the "States"), the Savings Banks Association of Lower Saxony (Sparkassenverband Niedersachsen) and the Savings Banks Holding Association in Saxony-Anhalt (Sparkassenbeteiligungsverband Sachsen-Anhalt) and the Special Purpose Holding Association of the Savings Banks in Mecklenburg-Western Pomerania (Sparkassenbeteiligungszweckverband Mecklenburg-Vorpommern) (together with the States, the "Owners") - as well as the Savings Banks Finance Group (Sparkassenfinanzgruppe) have reached agreement on all material points regarding the bank's realignment and the implementation of the planned capital measures. In this context, NORD/LB, its Owners and the Savings Banks Finance Group are in close contact with the relevant supervisory authorities and the EU Commission on an ongoing basis.

In the course of these consultations with the relevant supervisory authorities it became clear today that, due to the complexity of the proceedings and mutual interdependencies, due to the necessity of consent by the EU Commission, which has not yet been granted, due to the necessity of parlamentary proceedings in the States and also due to the steps required with respect to the regulatory proceedings, the implementation of the capital measures previously envisaged for the 3rd quarter of 2019 may only be effected in the 4th quarter of 2019.

NORD/LB is in close contact with the relevant supervisory authorities on an ongoing basis also with respect to this adjustment of the previous timing and the resulting delay in implementing the capital measures.

On this basis, taking into account the continuous progress made in the overall process of realigning NORD/LB, NORD/LB's Management Board expects that the capital injection and the implementation of further capital measures will be effected in the 4th quarter of 2019.

By implementing these capital strengthening and realignment measures, the capital ratios of NORD/LB currently failing to meet the regulatory minimum requirements will significantly increase and comply with all regulatory requirements."

Deutsche Hypothekenbank (Actien-Gesellschaft): Agreement on basic features of capital plan and future business model of NORD/LB. Possible balance sheet loss of NORD/LB in 2019 due to high planned restructuring costs.

04-Apr-2019 / 01:08 CET/CEST

Deutsche Hypothekenbank (Actien-Gesellschaft) is a wholly-owned subsidiary of Norddeutsche Landesbank - Girozentrale ("NORD/LB") and is closely linked to its parent company by a control and profit and loss transfer agreement and a waiver rule in accordance with Art. 7 (1) CRR and Section 2a (1) of the German Banking Act (KWG). On 03 April 2019 NORD/LB published the following ad hoc announcement about the capital plan and the stake in Deutsche Hypothekenbank:

"The board and representatives of the owners (Träger) of Norddeutsche Landesbank Girozentrale ("NORD/LB") - the State of Lower Saxony, the State of Saxony-Anhalt (together the "States"), the Association of the Savings Banks of Lower Saxony (Sparkassenverband Niedersachsen) as well as the Holding Association of the Savings Banks of Saxony-Anhalt (Sparkassenbeteiligungsverband Sachsen-Anhalt) and the Special Purpose Holding Association of the Savings Banks of Mecklenburg-Western Pomerania (Sparkassenbeteiligungszweckverband Mecklenburg-Vorpommern) (together referred to with the States as the "Owners")  agreed on the basic features of a capital plan and the future business model of NORD/LB, which they presented to the relevant authorities in more detail at a meeting today. The supervisory authorities have taken note of this as basis for further considerations.

The plan is to strengthen NORD/LB's capital ratios by a capital injection of EUR 2.835 billion, in which the States of Lower Saxony and Saxony-Anhalt contribute a total of EUR 1.7 billion. According to current discussions, EUR 1.135 billion of the capital injection is to be made by the DSGV and the savings banks which are currently owners of NORD/LB (Trägersparkassen). It is planned that the State of Lower Saxony will also implement additional capital-relieving measures of up to EUR 800 million, which would result in a positive overall capital effect of up to EUR 3.635 billion.

The capital plan, together with the new business model, shall be further detailed following today's meeting with the supervisory authorities and submitted to the supervisory authorities in a timely manner. All capital measures described, as well as the business model, are still subject to the approval of the bank's committees, the Owners and the DSGV, as well as the supervisory authorities. The measures are also subject to approval by the EU Commission, with which the bank and its Owners continue to be in close contact, and which will carry out an assessment under state aid law. It is planned to implement the agreed capital measures in the third quarter of 2019 at the latest. With the implementation of these measures for capital strengthening and realignment, capital ratios will again increase significantly and comply with all regulatory requirements.

The basis for the capital measures is a restructuring of NORD/LB with corresponding changes in its business model, the details of which will be further developed in the coming months between the Owners, the DSGV and the board of NORD/LB. At this stage, the parties have agreed on the following key points:

NORD/LB will operate as a Landesbank und Girozentrale with a regional focus of its operations. In connection with the downsizing process, the balance sheet total will be reduced perspectively to approximately EUR 95 billion.

In order to achieve this, the Owners and the DSGV are primarily planning the following measures:

NORD/LB will withdraw from the ship loan business during this year. The non-performing ship loan portfolios which have not been sold remain at NORD/LB and are being gradually reduced. In this context, the State of Lower Saxony provides a guarantee as security.

As of today, the Braunschweigische Landessparkasse remains part of NORD/LB. Likewise, as of today, the Deutsche Hypothekenbank (Actien-Gesellschaft) remains a wholly-owned subsidiary of NORD/LB. A separation from NORD/LB of the Förderinstitute and public shareholdings (öffentliche Beteiligungen) will be examined.

As of today, all other business segments are to remain in NORD/LB in a downsized manner.

As the restructuring of the business model and the reduction of the balance sheet are expected to incur high restructuring costs, as of today NORD/LB's board expects that the 2019 financial year will be concluded at a loss.

Like the capital measures outlined above, decisions on the bank's future business model are subject to various committee and parliamentary decisions. They are also subject to approval by the EU Commission and are closely coordinated with the bank's relevant supervisory authorities."

Deutsche Hypothekenbank (Actien-Gesellschaft): Risk provisions at NORD/LB in connection with a significant ship financing portfolio transaction lead to an annual loss and a temporary decrease in capital ratios of NORD/LB.

02-Feb-2019 / 22:15 CET/CEST

Deutsche Hypothekenbank (Actien-Gesellschaft) is a wholly-owned subsidiary of Norddeutsche Landesbank - Girozentrale ("NORD/LB") and is closely linked to its parent company by a control and profit and loss transfer agreement and a waiver rule in accordance with Art. 7 (1) CRR and Section 2a (1) of the German Banking Act (KWG). On 02 February 2019 NORD/LB published the following ad hoc announcement:

"At today's meeting of the owners (Trägerversammlung) of Norddeutsche Landesbank - Girozentrale - ("NORD/LB") - the State of Lower Saxony, the State of Saxony-Anhalt, the Association of the Savings Banks of Lower Saxony (Sparkassenverband Niedersachsen) as well as the Holding Association of the Savings Banks of Saxony-Anhalt (Sparkassenbeteiligungsverband Sachsen-Anhalt) and the Special Purpose Holding Association of the Savings Banks of Mecklenburg-Western Pomerania (Sparkassenbeteiligungszweckverband Mecklenburg-Vorpommern) (together referred to as the "Owners" (Träger)) -, the Owners decided, following a detailed evaluation of a joint bid by two financial investors submitted as part of a bidding process, to postpone this option for the time being and to focus on a joint solution with the German Savings Banks and Giro Association (Sparkassen- und Giroverband e.V.) ("DSGV") in the public sector. After representatives of the DSGV and the Owners have discussed the key points of this proposed solution for the capital strengthening and realignment of the bank with the relevant supervisory authorities on 1 February 2019, this solution will be specified in further meetings with the DSGV and must be discussed with the relevant supervisory authorities as well as the EU Commission under aspects of State Aid Law. In light of these forthcoming measures to strengthen the capital base of the bank, the management board of NORD/LB and its Owners have decided in their today's meetings to transfer a significant part of the ship financing portfolio of NORD/LB in a volume of approximately EUR 2.7 billion to an external investor by way of a portfolio transaction. This portfolio contains approximately 90 % of non-performing loans ("NPL"). In addition, the management board of the bank has decided to create a comprehensive additional risk provision for the entire NPL portfolio for the 2018 financial year, resulting in a total risk provision for the 2018 financial year of up to EUR 2.5 billion. Based on the currently available figures for the 2018 financial year, this will result in an annual loss for the NORD/LB group of approximately EUR 2.7 billion after tax. The result in accordance with HGB (German Commercial Code (Handelsgesetzbuch)) for the 2018 financial year will show an annual loss of approximately EUR 2.5 billion after tax. The aforementioned loss for the 2018 financial year will have a corresponding effect on the capital ratios in such a way that the common equity tier 1 capital ratio will decrease to about 6 to 6.5 % and thus the thresholds required by supervisory law will temporarily not be met. The supervisory authority has been informed about this and will request a specific capital plan from NORD/LB in the coming weeks. NORD/LB will draw up such a capital plan on the basis of today's resolution by the Owners with regard to the DSGV's proposed solution and assumes that with the implementation of the measures contained therein for the capital strengthening and realignment of the bank, the capital ratios will again increase significantly and meet all regulatory requirements."

Deutsche Hypothekenbank (Actien-Gesellschaft): the representatives of the holders (Träger) of its parent company NORD/LB welcome the solution proposed by the DSGV to cover capital requirements

01-Feb-2019 / 01:23 CET/CEST

Deutsche Hypothekenbank (Actien-Gesellschaft) is a wholly-owned subsidiary of Norddeutsche Landesbank - Girozentrale ("NORD/LB") and is closely linked to its parent company by a control and profit and loss transfer agreement and a waiver rule in accordance with Art. 7 (1) CRR, formerly Section 2a (1) of the German Banking Act (KWG). On 31 January 2019 NORD/LB published the following ad hoc announcement concerning a proposed solution to cover its capital requirements:

"The German Savings Banks and Giro Association (Sparkassen- und Giroverband e.V.) ("DSGV") declared today, that the responsible bodies of the Savings Banks Finance Group (Sparkassen-Finanzgruppe) had agreed at a general meeting unanimously on a proposed solution to cover the capital requirements and the associated reorganisation of Norddeutsche Landesbank - Girozentrale - ("NORD/LB").

The representatives of the holders (Träger) of NORD/LB declared at their meeting on 31 January 2019, that they welcome the DSGV's proposal for a solution to strengthen the capital and the realignment of the bank and expressed their support to prioritise this proposal.

Following coordination with the relevant supervisory authorities, the bank's responsible bodies, in particular the holders meeting (Trägerversammlung), will decide on the next steps in a timely manner.

Subsequently, the concrete details of the measures for the capital strengthening and realignment are to be determined as well as further coordination with the EU Commission and the relevant supervisory authorities is necessary."

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