The new and existing owners have taken the last step necessary for the re-alignment of NORD/LB, and implemented the measures to strengthen the bank's capital as planned. As a result, the bank today received a cash cap-ital injection to a total amount of EUR 2.8 billion which was allocated to the share capital. On 21 December, the new State Treaty on NORD/LB, which was signed by the States of Lower Saxony, Saxony-Anhalt and Mecklenburg-Vorpommern on 6 December, came into force.

At its meeting on Friday, the Supervisory Board of NORD/LB Norddeutsche Landesbank appointed Olof Seidel as a new member of the Managing Board. Seidel has been exercising the duties of Chief Financial Officer (CFO) and Chief Operating Officer (COO) as a General Representative for around a year and a half. The bank's Supervisory Board declared its intention to appoint Seidel to the Managing Board, once the necessary financial supervisory requirements were in place, back in April 2018.

Dr Hinrich Holm, Deputy Chairman of the Managing Board of NORD/LB and responsible for Financial Markets, will be leaving the bank when his contract expires on 31 January 2020. Dr Holm has been on the Managing Board of NORD/LB since 2010, with official residence in Magdeburg. Since 2012, he has been responsible for Financial Markets, and was appointed Deputy Chairman of the Managing Board at the start of 2017.

The EU Commission has declared the planned measures to strengthen NORD/LB's capital to be free of state aid and has thus cleared the way for the implementation of these measures. This was decided by the EU Commission yesterday.

In the first nine months of 2019, NORD/LB Norddeutsche Landesbank achieved earnings before taxes of € 257 million. Consolidated profit after taxes was € 215 million. The positive trend of the first half of the year has thus continued into the third quarter. Earnings also rose significantly compared to the previous year (3rd quarter 2018: € 64 million).

NORD/LB’s fixed income research once again performed excellently in an international ranking. In a survey of institutional investors in Western Europe conducted by the prestigious financial market magazine Euromoney, NORD/LB came third in two important categories.

A syndicate of BayernLB, Helaba and NORD/LB is providing EUR 389 million in financing for the purchase of 56 electric trains by Go-Ahead Bayern GmbH. The rail company will put the 44 Mireo multiple units and 12 Desiro-HC double-decker trains from Siemens Mobility into service from December 2022 on the routes Ulm-Augsburg-Munich, Würzburg-Donauwörth and Augsburg-Donauwörth.

NORD/LB Norddeutsche Landesbank realised earnings before taxes of € 180 million in the first half-year of 2019. The consolidated profit after taxes was € 149 million. The bank was able to further improve the consolidated profit of € 54 million earned in the first quarter. There was also a significant increase in profit as compared to the first half-year of 2018 (1H 2018: € 54 million).

At the renowned Partnerships Awards in London, NORD/LB Norddeutsche Landesbank has been named Debt Provider of the Year for the third time in a row. The Partnership Awards are one of the biggest and most important events for infrastructure financing through public-private partnerships (PPP). Despite its comparatively small team, NORD/LB came out on top in a competitive field. Other finalists included Institute Assured Guaranty, Aviva Investors and Sumitomo Mitsui Banking Corporation Europe.

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.