Search results for: nordlb

27 results

A list of search results

  • 4 April 2019
    Business & Finance

    Nord/LB is exiting the ship financing sector as it looks for a fresh start with a capital injection of EUR 3.5 billion.

  • 28 January 2019
    Business & Finance

    NORD/LB receives a joint offer from two financial investors regarding a minority stake in the bank.

  • 8 April 2016
    Business & Finance

    Led by the current slowdown in the shipping market, German shipping bank Norddeutsche Landesbank (Nord/LB) said it will decrease its shipping loans by some EUR 5 to 7 billion (USD 5.6 to 7.9 billion). Namely, the bank is planning to reduce the shipping portfolio from its current volume of EUR 19 billion by outsourcing risks and targeted reduction to […]

  • 30 May 2017
    Business & Finance

    Although the German shipping bank Norddeutsche Landesbank (Nord/LB) made a good start into the year and further reduced its shipping finance portfolio, there is “still no all-clear for the shipping crisis.” Nord/LB concluded the first quarter of 2017 with earnings before taxes of EUR 255 million, compared to a pre-tax loss of EUR 107 million reported in […]

  • 30 May 2018
    Business & Finance

    German bank NORD/LB managed to further reduce the non-performing shipping portfolio in Q1 2018.

  • 4 February 2019
    Business & Finance

    NORD/LB selling one of its ship financing portfolios to an unnamed investor for around EUR 2.7 billion.

  • 22 August 2016
    Business & Finance

    The German shipping bank Norddeutsche Landesbank (Nord/LB) has reached an agreement with KKR Credit to sell a portfolio of performing and non-performing shipping loans with a total volume of about USD 1.5 billion originated by NORD/LB. The deal, which is subject to completion of certain conditions precedents, would include up to 100 ships and would form the […]

  • 18 April 2018
    Business & Finance

    Nord/LB returned to profit in financial year 2017 after significantly reducing its shipping loan portfolio.

  • 4 July 2017
    Business & Finance

    The German shipping bank Norddeutsche Landesbank (Nord/LB) has given up on the decision to sell its shipping loans to KKR, Nord/LB confirmed to World Maritime News. The company said that the parties “agreed to not pursue the mentioned shipping portfolio transaction anymore.” Under the previous sale agreement reached between the companies, Nord/LB was supposed to sell a portfolio of performing […]

  • 19 September 2016
    Business & Finance

    The ratings of the German shipping bank Norddeutsche Landesbank GZ (NORD/LB) and its subsidiary Deutsche Hypothekenbank (Actien-Gesellschaft) (Deutsche Hypo), including the banks’ long-term deposit ratings, have been downgraded to A3 from A2, according to Moody’s rating agency. Furthermore, their long-term debt ratings and NORD/LB’s issuer rating were downgraded to Baa1 from A3, as well as both […]

  • 19 May 2016
    Business & Finance

    Due to the repeated deteriorating situation in the shipping markets, German shipping bank Norddeutsche Landesbank (Nord/LB) closed the first quarter of 2016 with earnings before taxes of minus EUR 98 million (USD 109.8 million), as the bank’s risk provisioning surged to EUR 435 million (USD 487.4 million). Namely, net allocations to loan loss provisions rose from EUR 104 million […]

  • 11 April 2019
    Business & Finance

    Nord/LB sold its EUR 2.6 billion shipping loan portfolio to an affiliate of Cerberus Capital Management.

  • 24 November 2016
    Business & Finance

    Due to a further increase in risk provisioning for ship finance, the German shipping bank Norddeutsche Landesbank (Nord/LB) concluded the first nine months of financial year 2016 with a consolidated loss before taxes of EUR 624 million (USD 659.3 million). Namely, the bank is reacting to the further intensification of the global shipping crisis over the course […]

  • 14 March 2012

    NORD/LB Norddeutsche Landesbank is participating in the financing of an installation vessel for offshore wind energy farms. Commissioned by the international provider of construction-related services HOCHTIEF, the “VIDAR” is a jack-up vessel being built at the Crist shipyard in Poland and scheduled to go into service from 2013 onwards. NORD/LB has co-structured the transaction within […]

  • 13 March 2017
    Business & Finance

    German shipping bank Norddeutsche Landesbank Girozentrale (NORD/LB) plans to provide financial relief to its subsidiary Bremer Landesbank Kreditanstalt Oldenburg – Girozentrale – (BLB), which posted a huge loss in 2016 amid a challenging shipping market.  Namely, BLB suffered a full-year loss of around EUR 1.4 billion (USD 1.5 billion) in 2016. The reason for the higher loss is […]

  • 6 April 2017
    Business & Finance

    As a result of a huge increase in the risk provisioning for ship financing, German shipping bank Norddeutsche Landesbank (Nord/LB) closed the financial year 2016 with a loss of EUR 1.9 billion (USD 2.02 billion). Overall the group set aside EUR 2.94 billion for ship financing risks in 2016, after EUR 840 million in the previous year on […]

  • 23 October 2014
    Business & Finance

    German shipping banks Commerzbank AG (CBK), HSH Nordbank AG and Norddeutsche Landesbank Girozentrale are among 130 banks undergoing a review by the European Central Bank (ECB) to check their financial stability. The three banks have been clogging shipping debts as struggling container companies sought after loans to compensate for low freight rates. Preliminary findings say […]

  • 27 May 2016
    Business & Finance

    The German shipping bank Norddeutsche Landesbank (Nord/LB) could encounter high execution risks if it goes through with the plan to decrease its shipping exposures by EUR 4 billion to 6 billion (USD 4.4 billion to 6.7 billion) over the next three years, according to Fitch Ratings. Planned disposals, representing up to one-third of the bank’s total shipping exposures, are […]

  • 26 August 2016
    Business & Finance

    Due to the severe deterioration in the shipping markets during the first half of 2016, German shipping bank Norddeutsche Landesbank (Nord/LB) increased its risk provisioning from ship financing as it closed the first half of the year with earnings before taxes of minus EUR 364 million (USD 410.9 million). The increase in the risk provisioning is also partly due […]

  • 9 December 2019
    Business & Finance

    The European Commission has found plans to strengthen the capital position of Nord/LB to be free of any state aid.

  • 23 February 2016
    Business & Finance

    German lender NORD/LB has teamed up with shipping company Open Group and alternative assets specialist Caplantic in a joint venture that will specialize in advising on restructuring of non-performing ship loans, the company said in a release. The new joint venture, named Crystal Ocean Advisors GmbH, is being established as there is a need for […]

  • 14 March 2012
    Business & Finance

    NORD/LB Norddeutsche Landesbank is participating in the financing of an installation vessel for offshore wind energy farms. Commissioned by the international provider of construction-related services HOCHTIEF, the “VIDAR” is a jack-up vessel being built at the Crist shipyard in Poland and scheduled to go into service from 2013 onwards. NORD/LB has co-structured the transaction within […]