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.