Press Archive

12/09/2016 NORD/LB finances two wind farms in Lower Saxony and Italy

NORD/LB Norddeutsche Landesbank is behind the financing of two wind farms for Danish project developer European Energy A/S. The project in the German federal state of Lower Saxony involves the existing Gilmerdingen wind farm in the Heide district, where the older turbines are being replaced by more efficient and more powerful units as part of a repowering programme.

11/24/2016 NORD/LB increases risk provisioning for ship finance significantly

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).

10/25/2016 NORD/LB issues 10-year Jumbo Pfandbrief

Monday saw NORD/LB issue a 10-year public-sector Pfandbrief with a face value of EUR 750 million.

10/05/2016 NORD/LB finances solar rooftop projects in France

NORD/LB Norddeutsche Landesbank has financed further solar rooftop projects in France and, in the course of this, has continued to collaborate with Danish fund manager OBTON A/S. The total financing volume for the three projects closed in 2016 together with OBTON amounts to € 48 million.

09/30/2016 Günter Tallner appointed new Board Member responsible for the Corporate Customers and Special Finance businesses at NORD/LB

At its meeting this Friday, the Supervisory Board of the NORD/LB Norddeutsche Landesbank appointed Günter Tallner (54) as a new member of the Managing Board. Tallner will assume responsibility for the corporate customers business as well as for the Bank’s special finance business.

09/30/2016 Christoph Dieng appointed new Chief Risk Officer of NORD/LB

Christoph Dieng (48) will become the new Chief Risk Officer (CRO) on the Managing Board of NORD/LB Norddeutsche Landesbank. This was decided by the Bank’s Supervisory Board in its meeting this Friday.

08/31/2016 Joint statement by the owners on securing the future of Bremer Landesbank

The owners of Bremer Landesbank (BLB), Norddeutsche Landesbank (NORD/LB), the Free Hanseatic City of Bremen (FHB) and the Lower Saxony Association of Savings Banks (SVN) have, after intensive negotiations, reached agreement to the effect that BLB is to become a fully owned subsidiary of NORD/LB. To this end the FHB and SVN will sell their shares in BLB to NORD/LB. The future of BLB is thus secured.

08/24/2016 NORD/LB with challenging first half-year

NORD/LB Norddeutsche Landesbank closed the first half of 2016 with earnings before taxes of minus € 364 million. The consolidated loss after taxes totalled € 406 million. In the midst of a challenging environment, the Bank was able to maintain its good earnings position in practically all of its business segments. At the same time, due to the severe deterioration in the situation on the shipping markets, the Bank increased its risk provisioning from ship financing significantly. The increase in the risk provisioning is also partly due to the previously announced reduction in NORD/LB’s shipping portfolio, in which the Bank already has a number of initial successes to report. Since the end of 2015, the value of the shipping portfolio has been reduced from € 19.0 billion to € 17.9 billion.

08/22/2016 Investors, including KKR Credit, acquire initial shipping portfolio of about USD 1.5 billion from NORD/LB

NORD/LB Norddeutsche Landesbank and KKR Credit have reached an agreement by which, subject to completion of certain conditions precedents, KKR Credit, together with a sovereign wealth fund (the “Investors”), will acquire a portfolio of performing and non-performing shipping loans originated by NORD/LB.

08/09/2016 NORD/LB and Talanx finance two solar parks in Brandenburg

NORD/LB Norddeutsche Landesbank and Talanx have jointly provided their support with project financing for two solar parks already in operation since 2010 close to the town of Cottbus in South Brandenburg. This marks the first opportunity for NORD/LB to work with the institutional investor Talanx. As part of this strategic cooperation, NORD/LB and investors of the Talanx Group jointly provided long-term loans upon financial close. NORD/LB handled the arrangement of project financing with the sponsors.