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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 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.
Online Annual Review
Our current figures are presented on its own web page or alternatively as PDF download:
>Online Annual Review
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).
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).
NORD/LB Investor Relations
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.