Google Plus
Linked In
Back Issues
Newsletter Sign Up
Back Issues
Newsletter Sign Up
World Cargo News
Bulk Materials International
Filter content by area of interest
Ports & Terminals
Port AuthoritiesContainerBulkBreakbulk/General CargoRo-Ro/AutomotiveGTOs
Cargo Handling Equipment
STS CranesYard CranesMobile CHERo-Ro EquipmentBreakbulk EquipmentLow ThroughputBulk Handling Equipment
Shipping & Logistics
Container ShippingBreakbulk/General CargoRo-Ro ShippingDry Bulk ShippingLiquid cargoesLogistics
TOSPlanning & Optimisation TechnologyWiFiMobile ComputingPort Community SystemsAsset Tracking & Monitoring
Automated EquipmentGate AutomationRemote ControlProcess Automation
RailInland WaterwaysShortsea ShippingRoadAir-Cargo
Container Industry
Container manufactureContainer leasingRepair/StorageTradingConversion/Innovation
Operations/TransportContainer leasingEquipmentM&R/Storage
General cargoProject Cargo/Heavy LiftForest productsRo-Ro/AutomotiveAgribulks
Safety & Security
InsuranceHazardous cargoLashings/SecuringLegal/Regulatory
Civil Engineering
Port & terminal construction/designCivil & Consulting EngineersDredging & ReclamationMooring & FenderingLightingPaving & Surfacing
InsuranceLegal/RegulatoryAppointments/PeopleMergers/Acquisitions/RestructuringFinance/Financial ResultsTrade & Professional AssociationsBusiness/Commerce Miscellaneous
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

You are viewing 1 of your 1 guest articles

register  or  login  for full access to online news

NordLB - next ship finance bank up for sale?

There are reports that Nord Landesbank, the state bank for the German states of Lower Saxony and Saxony-Anhalt, is up for sale. Interested parties are rumoured to include Cerberus

Linked InTwitterFacebookeCard

Following the stressed sale of HSH Nordbank, will NordLB, owned 60 % by the state of Lower Saxony (NS) and 26% by the savings banks of NS, the state of Saxony-Anhalt and the saving banks associations of the states of Mecklenburg-Vorpommern and Saxony Anhalt, be next?

NordLB reduced its portfolio from €14B to €12B last year, but the provision for bad debts is still very large.

The NS ministry for financial affairs is considering different options to improve competiveness, include the inclusion of private financial investors. The official line is that an outright sale is not on the agenda. “We stand by NordLB," said a NS government spokesman.

NordLB generated a profit in the first nine months of 2017 of €228M, after heavy losses of €2B in 2016. A key problem is the negative ship’s financing portfolio that the bank took over from Bremer Landesbank.

Last December, NS finance minister Reinhold Hilbers said that NordLB is economically stable and has no refinancing or liquidity problems. “The question remains, however, whether stricter regulations will place more pressure on core capital requirements…We know that the bank’s equity margin is not huge."

Linked InTwitterFacebookeCard

You may also be interested in...

DoD deal for ORBCOMM and Savi Technology

Pineapples land at Tampa

Closing the loop on reefer monitoring

MDC Terminal gearing up

Crane run for DP World Australia

Reefer demand to boom

Related Stories

Hansa Heavy Lift declares insolvency

Hansa Heavy Lift, Hamburg, a subsidiary company of US finance investor Oaktree C...
Linked In

© 2018 WCN Publishing Ltd
24 Bridge Street, Leatherhead,
Surrey KT22 8BX, England.

Linked In