The integration of Deutsche Hypo, which is now being completed as planned, is an important contribution within the framework of the transformation program NORD/LB 2024. Both the Deutsche Hypo brand and its locations in Germany and abroad will be retained.
"The work in preparation for the legal merger of Deutsche Hypo with NORD/LB has been exemplary," said Thomas Bürkle, Chairman of the Board of Managing Directors of NORD/LB. "We were able to keep to the schedule and are looking forward to welcoming our new colleagues. Even after the integration, we intend to maintain the Deutsche Hypo brand. Commercial real estate financing remains an important pillar in NORD/LB's business model. We are a major player that the market will have to reckon with in the future as well."
A total of around 400 employees are formally transferring to NORD/LB. They were previously included in the number of employees of the NORD/LB Group, which amounted to around 4,500 as of March 31. With a financing volume of €12.5 billion, Deutsche Hypo is one of Germany's major real estate financiers.
NORD/LB Norddeutsche Landesbank is one of the leading German commercial banks with total assets of EUR 120 billion. The core business segments include business with corporate customers, private and commercial customers including private banking as well as special finance in the energy and infrastructure sector, aircraft finance and commercial real estate finance. The bank is headquartered in Hanover, Brunswick and Magdeburg and has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf, Munich and Stuttgart. Outside Germany NORD/LB is represented by a Pfandbrief Bank (NORD/LB Covered Bond Bank) in Luxembourg and branches in London, New York and Singapore.