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NORD/LB earns € 68 million in the first quarter

NORD/LB Norddeutsche Landesbank concluded the first quarter of 2018 with earnings before taxes of € 68 million. After taxes, profit stood at € 43 million. Last year the first-quarter result reflected extraordinary income in the securities business and totalled € 295 million before taxes and € 248 million after taxes. However, the introduction of the new accounting standard IFRS 9 means that there is only limited comparability with the prior-year figures. The common equity tier 1 capital ratio at NORD/LB rose further and stood at 12.8 per cent as at 31 March 2018.

For the first time NORD/LB has published a quarterly result in accordance with the new accounting standard IFRS 9, which replaces the previous standard IAS 39. In this context we would like to draw you attention to our new publication frequency. From now on we focus on half-year and annual reportings, but with quarterly press releases and investors presentations we will inform you about the bank as usual.

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.

Online Annual Report

Our current figures are presented for the first time on its own web page or alternatively as PDF download:
>Online Annual Report

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
Georgsplatz 1
30159 Hannover


As reading habits have changed a lot these days we enhanced our reporting. The image report is now no longer a part of the Annual Report 2017. Instead we developed a new Annual Review in addition to the Annual Report, where you can get all the information on NORD/LB’s flagship projects, our mindset and our motivation to be our customers’ best bespoke tailors.

>Online Annual Review

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