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Group results for 3Q 2016
NORD/LB Norddeutsche Landesbank concluded the first nine months of financial year 2016 with a consolidated loss before taxes of EUR 624 million. After taxes, the consolidated loss stood at EUR 736 million. This was mainly due to a further increase in risk provisioning for ship finance. With this, the bank is reacting to the further intensification of the global shipping crisis over the course of this year and responding to the lower forecasts from all relevant institutions. A disproportionately high share of the risk provisioning is due to ship finance provided by Bremer Landesbank (BLB). BLB will become a 100% subsidiary of NORD/LB at the turn of the year, though its results are already fully incorporated in the Group figures (as in previous years).
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).
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).
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