Statement regarding Bremer Landesbank
NORD/LB, the Lower Saxony Savings Bank Association and the City of Bremen assume joint responsibility for keeping Bremer Landesbank's capital intact at an appropriate level.
As already known, the ongoing crisis in the shipping markets and the elevated regulatory requirements in terms of vessel valuations will lead to a loss for Bremer Landesbank and necessitate a capital increase. It is clear that the owners will ensure that the bank's capital is kept intact at an appropriate level. Intensive talks are currently in progress as to the form and size of the capital increase. A particular focus will be on studying the options of a transfer of the shares held by the Free Hanseatic City of Bremen in NORD/LB AöR or a sale of the shares to NORD/LB AöR, as well as on the contractual arrangements including the state treaty. The necessary decisions will be carried out by year-end 2016.
Mayoress Karoline Linnert, the Federal State of Bremen's Finance Senator:
"In view of the diverse critical media coverage of recent days, it is very important to the owners that the bank suffers no damage through speculations. Our common objective is to further consolidate the cooperation."
Dr. Gunter Dunkel, CEO of NORD/LB:
"We are agreed that Bremer Landesbank should continue to be an active, valuable member of the NORD/LB Group and should keep its own identity. The negotiations must now be commenced without delay so that we achieve a satisfactory result for all concerned by the end of the year."
NORD/LB Corporate Communication