NORD/LB reports

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NORD/LB: Restructuring puts strain on financial income for 2019 

  • Losses before taxes EUR 30 million
  • Profit/loss before restructuring and taxes EUR 429 million
  • Ratings on the way up after capital reinforcement
  • Transformation of bank in full swing
  • Coronavirus complicating outlook for 2020

NORD/LB Norddeutsche Landesbank finished the financial year 2019 with a loss before taxes of EUR 30 million. Consolidated profit after taxes was minus EUR 69 million. As already announced, high restructuring expenses were generated for the realignment of the bank in 2019, which put a significant strain on financial income. At EUR 429 million, earnings before restructuring, reorganisation and taxes were at a very respectable level.

Business Year 2016

As announced in autumn 2016, NORD/LB Norddeutsche Landesbank closed the financial year 2016 with a significant loss. The consolidated loss was € 1,865 million before taxes and € 1,959 million after taxes. The loss was the result of a huge increase in the risk provisioning for ship fi-nancing, especially at subsidiary Bremer Landesbank (BLB). Overall the Group set aside € 2,940 million for ship financing risks in 2016, after € 840 million in the previous year. This was the Bank's reaction to the dramatic deterioration in the global shipping crisis over the course of 2016.

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Business Year 2015

In financial year 2015 NORD/LB Norddeutsche Landesbank achieved earnings before taxes of € 653 million, more than doubling the prior year’s result (€ 276 million). The same applies to the consolidated profit, which totalled € 518 million (prior year: € 205 million).

Contact

NORD/LB Investor Relations
Friedrichswall 10
30159 Hannover


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