NORD/LB reports

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NORD/LB starts the year well

  • Q1 pre-tax earnings of € 65 million
  • Administrative expenses further reduced
  • Total assets under € 150 billion for the first time

NORD/LB Norddeutsche Landesbank achieved earnings before taxes of € 65 million in the first three months of 2019, thus approximately equalling the previous year's result (€ 68 million). Consolidated profit after taxes was € 54 million, thereby exceeding the previous year's quarterly result of € 43 million.

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.

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
Friedrichswall 10
30159 Hannover


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