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.
Clarity regarding NORD/LB’s future direction
- Key elements of future business model
- NORD/LB runs down bad debt from ship financing
- Risk provisioning for NPL portfolio responsible for 2018 negative EBT of € 2.1 billion
- Bank to remain financier of SMEs
- 2019 to be year of transition
NORD/LB Norddeutsche Landesbank has, together with its owners and the Savings Banks Finance Group, agreed on the key elements of a capital strengthening and revised business model with its former owners and the Savings Banks Finance Group. NORD/LB will remain a business partner for SMEs, savings banks, private and commercial customers as well as institutional investors. It will also continue in its role as a specialist for financing energy and infrastructure projects, real estate and aircraft.
> Group Annual Report 2018 (PDF, 6 MB)
> Main Features of the Capital Instruments (XLSX, 345 KB)
> Individual financial statement 2018 (PDF, 662 KB)
> Consolidated Financial Statements as at 31 December 2018 (XLSX, 351 KB)
> Slavery and Human Trafficking Statement 2019 (PDF, 1 MB)
> Sustainability Report 2018 (PDF, 1 MB)
Business Year 2017
NORD/LB Norddeutsche Landesbank concluded the financial year 2017 with earnings before taxes of € 195 million. Consolidated profit totalled € 135 million. In the financial year 2016, the Bank posted a loss before taxes of € 1.9 billion as a result of the marked intensification of the global shipping crisis.
> Annual Review 2017 - Facts & Figures (PDF, 59 KB)
> Remuneration Report 2017 (PDF, 911 KB)
> Group Annual Report 2017 (PDF, 4 MB)
> Main Features of the Capital Instruments (XLSX, 347 KB)
> Individual financial statement 2017 (PDF, 2 MB)
> Annual Review 2017 (PDF, 4 MB)
> Consolidated Financial Statements as at 31 December 2017 (XLSX, 140 KB)
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
> Group Annual Report 2016 (PDF, 8 MB)
> Disclosure Report 2016 (PDF, 1 MB)
> Main Features of the Capital Instruments (XLSX, 337 KB)
> Consolidated Financial Statements as at 31 December 2016 (XLSX, 142 KB)
> Individual financial statement 2016 (PDF, 1 MB)
> Remuneration Report 2016 (PDF, 717 KB)
> Bremer Landesbank IFRS Interim Financial Report 2016 (PDF, 2 MB)
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).
> Group Annual Report 2015 (PDF, 6 MB)
> Consolidated Financial Statements as at 31 December 2015 (XLSX, 139 KB)
> Disclosure Report 2015 (PDF, 3 MB)
> Main Features of the Capital Instruments (XLSX, 152 KB)
> Individual financial statement 2015 (PDF, 2 MB)
> Remuneration Report 2015 (PDF, 752 KB)
> Bremer Landesbank HGB Reports and Financial Statements 2015 (PDF, 2 MB)
Business Year 2014
NORD/LB achieved earnings before taxes of € 276 million in the financial year 2014 and thereby significantly increased its pre-tax profit. In 2013 its earnings before taxes had totalled € 140 million. Its consolidated profit after taxes totalled € 205 million in 2014.
Business year 2013
NORD/LB Norddeutsche Landesbank increased its profit significantly in the financial year 2013. The Group achieved earnings before reorganisation and taxes of EUR 268 million, following EUR 131 million in the previous year, while its earnings before taxes totalled EUR 161 million (previous year: EUR 78 million). Due to tax revenue as a result of one-off effects, earnings after taxes totalled EUR 245 million (EUR 82 million).
Contact
NORD/LB Investor Relations
Friedrichswall 10
30159 Hannover
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