North German Landesbank

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  Norddeutsche Landesbank
- Girozentrale -
logo
Country GermanyGermany Germany
Seat Hanover , Braunschweig , Magdeburg
legal form Institute of public right
Bank code 250 500 00
BIC NOLA DE2H XXX
founding July 1, 1970
Website www.nordlb.de
Business data 2018
Total assets 154.012 billion euros
Employee 6109
management
Board Thomas Bürkle (Chairman)
Hinrich Holm,
Christoph Dieng,
Christoph Schulz,
Günter Tallner
Supervisory board Reinhold Hilbers (Chairman)
Nord / LB administration building in Hanover
Nord / LB headquarters in the old station in Braunschweig
Nord / LB headquarters in Magdeburg

The North German Landesbank Girozentrale (short Nord / LB , proper spelling NORD / LB ) is a financial institution (bank) in the legal form of a joint legal capacity public institution of the German states of Lower Saxony and Saxony-Anhalt . Nord / LB is a Landesbank and at the same time the giro center for the savings banks in Lower Saxony, Saxony-Anhalt and Mecklenburg-Western Pomerania . With total assets of around 154 billion euros, Nord / LB was the tenth largest bank in Germany at the end of 2018 . The bank has its headquarters in the cities of Hanover , Braunschweig and Magdeburg ; it has administrative buildings in all three cities. The new administration building in Hanover was opened on Friedrichswall in 2002; it is a steel skyscraper with distinctively offset blocks (see photo).

The bank is not to be confused with the similarly named former Landesbank HSH Nordbank, today Hamburg Commercial Bank with its headquarters in Hamburg and Kiel.

history

Nord / LB was formed in 1970 through the merger of the previously independent financial institutions Niedersächsische Landesbank Girozentrale, Braunschweigische Staatsbank including Braunschweigische Landessparkasse , Hannoversche Landeskreditanstalt and Niedersächsische Wohnungskreditanstalt Stadtschaft. The bank is the universal successor to these institutions. Nord / LB is not the legal successor to the former Mitteldeutsche Landesbank - Girozentrale for the province of Saxony, Thuringia and Anhalt (based in Magdeburg).

The history of the predecessor institutes goes back to 1765. In that year, Duke Karl I of Braunschweig founded the Ducal Leyhaus in Braunschweig. The Hannoversche Landeskreditanstalt was founded in 1840 to finance mainly agricultural businesses. In 1918 the city ​​council for the province of Hanover was founded as an institute for the provision of loans for urban housing construction.

In the old Duchy of Braunschweig (parts of Wolfsburg , Braunschweig, Helmstedt , Wolfenbüttel , Salzgitter , Seesen as far as Holzminden ), the "Braunschweigische Landessparkasse" also functions as a savings bank as an institution in the North / LB institution.

In the course of German reunification , the bank became a state bank and giro center for the states of Saxony-Anhalt and Mecklenburg-Western Pomerania .

At the end of 1991, the state of Lower Saxony transferred assets of EUR 472.34 million to Nord / LB. This transfer of assets was assessed by the European Commission as unauthorized state aid in October 2004, and Nord / LB had to repay EUR 712.6 million including interest in December 2004. As a result, in July and October 2005 "silent participations with a volume of EUR 900 million were issued, a share capital increase of EUR 850 million (of which the Savings Bank Association of Lower Saxony EUR 405 million, the State of Lower Saxony EUR 280 million, the State of Saxony-Anhalt EUR 150 million . EUR, Savings Bank Association Mecklenburg-Western Pomerania EUR 10 million), as well as a further share capital increase of 1,196.2 million EUR (of which State of Lower Saxony EUR 593.0 million, Savings Bank Association Lower Saxony EUR 417.5 million, Savings Bank Association Saxony-Anhalt 104 .0 million EUR, Sparkassenverband Mecklenburg-Vorpommern 81.0 million EUR), which took place through the conversion of existing silent contributions into share capital ". According to the decision of the European Commission, the capital injections were not state aid, as "they are fully in line with the principle of the market economy investor". The European Commission anonymized the companies "Fürstenberg Capital ..." (several GmbH, S.àr.l. & Cie SECS) in 2005 as business secrets, which were used to contribute silent contributions. These were explicitly mentioned in the 2012 approval process and were the core of small inquiries to the Lower Saxony state government. In the course of the capital measures in 2005, the state of Mecklenburg-Western Pomerania sold its shares to the savings bank associations of Lower Saxony and Saxony-Anhalt and on July 19, 2005 withdrew from the Nord / LB sponsorship. Since leaving the company, Nord / LB has no longer exercised a Landesbank function in this country. The former seat of the bank in Schwerin has only had the status of a branch since then.

In 2005 the guarantor liability for Nord / LB ended.

Nord / LB has branches in New York, Singapore, Shanghai and London and subsidiaries in Luxembourg. The Central and Eastern European business with the subsidiaries Nord / LB Polska (Poland), " Nord / LB Lietuva " in Lithuania and Nord / LB Latvija ( Latvia ) was brought into a joint venture with the Norwegian bank DnB NOR . The newly founded institute with the name DnB Nord A / S started its operative business in January 2006. In 2009, DnB Nord caused a loss of EUR 228 million. At the end of 2010, Nord / LB sold its stake in DnB Nord to the Norwegian majority owner DnB NOR.

On January 1, 2008, the Braunschweigische Landessparkasse was converted into a so-called partially legal institution within the institution . This acquired legal capacity externally, internally it remained part of Nord / LB. In this way the dispute between the bank and the city of Braunschweig over the establishment of its own savings bank was resolved.

In 2008, a significant share speculation failed because the customer of Vatas had not bought paper after price losses. In the course of the procedure, the responsible board member was released from his duties. In February 2010, the Nord / LB was awarded damages from Lars Windhorsts Sapinda, the amount claimed was more than EUR 150 million. A lawsuit against the seller of the shares, Credit Suisse , was unsuccessful in 2011.

The Nord / LB business area ship financing has been significantly affected by the shipping crisis since 2008 .

For the Swiss subsidiary Skandifinanz Bank AG, risk provisions of EUR 134 million had to be set up in 2009 for fraud.

Lower Saxony decided on a supplementary budget for 2011, which provided for a loan of EUR 600 million for the state to strengthen Nord / LB's share capital. In addition, special capital contributions, loans and silent partnerships could be converted into share capital. In July 2012 the European Commission approved restructuring aid amounting to EUR 3.3 billion. In August 2013, changes to hybrid bonds were approved on the basis of additional commitments from Germany.

In March 2016, the Cologne Public Prosecutor's Office, which is responsible for the Cum-Ex cases, was given the task of examining aid to tax evasion by around 75 NORD / LB Luxembourg customers. A provision of EUR 11.8 million was set up for this in 2015; the proceedings were completed in 2016.

The BLB was established on September 1, 2017 as a legally dependent institution of the Norddeutsche Landesbank. It was created through a state treaty between the states of Bremen and Lower Saxony from the former Bremer Landesbank Kreditanstalt Oldenburg , which was merged with the Norddeutsche Landesbank. Legal supervision of the bank will in future be exercised by the Lower Saxony Ministry of Finance, in the case of important decisions in consultation with the Senator for Finance of the Free Hanseatic City of Bremen. At the beginning of 2018 it was announced that the BLB brand would be replaced by Nord / LB.

Nord / LB closed the 2018 financial year with a loss of EUR 2.4 billion, in particular due to ship loans at risk of default. As a result, Nord / LB no longer meets the regulatory requirements for equity (CET1 ratio) with only 6.6% as of June 2019 (with a regulatory SREP minimum of 10.57%). Various scenarios were examined and discussed over time to obtain the necessary chapter, including the entry of private investors. A rescue of the bank by the savings banks and the states of Lower Saxony and Saxony-Anhalt with a volume of 3.6 billion euros was decided. The taxpayers' association criticized the planned rescue package and called for it to be stopped. The planned capital injection was checked by the EU Commission under state aid law and found to be permissible.

Business areas

The most important business areas include ship financing , aircraft financing, project financing in the field of renewable energies and infrastructure, the financing of commercial real estate (through its subsidiary Deutsche Hypo ), corporate and private customer business. As a Landesbank , Nord / LB also acts as the house bank for the states of Lower Saxony and Saxony-Anhalt. It is also the central institute of the savings banks in Lower Saxony, Saxony-Anhalt and Mecklenburg-Western Pomerania.

Since April 1, 2009, Nord / LB has also been handling all foreign payment transactions for the 11 savings banks in Schleswig-Holstein . She also wants to enter into cooperations for some savings banks in Brandenburg in the German-Polish border area.

Key figures

Selected key figures in the annual development. The figures were taken from the publications of the Federal Gazette from the respective balance sheet. Corrections in subsequent periods were not adopted for the previous year. The exception is 2006, as IFRS was published for the first time in 2007.

NORD / LB Group
year Published on Total assets

IFRS EUR million

Group result

after taxes EUR million

staff
2006 06/19/08 194,871 972 5560
2007 06/19/08 201,540 305 5563
2008 05/14/09 244.265 151 6257
2009 09/03/10 238,688 -141 6463
2010 05/13/11 228,586 236 6956
2011 04/30/12 227,630 536 7318
2012 05/28/13 225,550 80 7539
2013 07/31/14 200,845 245 7590
2014 06/10/15 197,607 205 6597
2015 06/06/16 180.998 518 6343
2016 04/19/17 174,797 -1959 6427
2017 05/08/18 165.379 135 6453
2018 05/23/19 154.012 -2354 6109

Holdings

The group includes among others

On January 1, 2010, Nord / LB sold its 25% stake in Berenberg Bank back to Berenberg Bank .

owner

Nord / LB is supported by the states of Lower Saxony with 52.98% of the shares and Saxony-Anhalt with 6.98%, as well as the savings bank finance group (26.70%), the Savings Bank Association of Lower Saxony (9.97%), the Sparkassenbeteiligungsverband Sachsen-Anhalt (1.99%) and the Sparkasse participation association Mecklenburg-Western Pomerania (1.38%). Thus, all shares in the company are in the direct and indirect property of the relevant federal states as well as the districts and municipalities as the owners of the savings banks.

As a Landesbank, Nord / LB is a public company due to its ownership structure . According to the so-called Transparency Directive of the EU (Directive 2000/52 / EC of the Commission of July 26, 2000), a public company is “any company to which the public sector, based on ownership, financial participation, statutes or other provisions, controls the activity of the company, can exercise a controlling influence directly or indirectly. "

Organs of society

Board

  • Thomas S. Bürkle (since January 1, 2014, Chairman since January 1, 2017)
  • Christoph Dieng (since February 3, 2017)
  • Hinrich Holm (since February 1, 2010)
  • Christoph Schulz (since September 1, 2006)
  • Günter Tallner (since February 3, 2017)

Supervisory board

The supervisory board consists of the following members.

Former personalities

See also

literature

  • Dieter Pannenberg (editing), Achim Däbert, Engelof Klausing, Axel Richter, Wolfram Schweppe, Volker Tenzer (employees): 30 years of NORD / LB. A young bank with a long tradition , publisher: NORD / LB corporate communication, Hanover: NORD / LB Girozentrale, 2000, pp. 89–117
  • Behnisch, Behnisch & Partner, NORD / LB (ed.): NORD / LB Hannover , Ostfildern-Ruit, 2002
  • Rainer Ertel : Norddeutsche Landesbank Girozentrale NORD / LB. In: Klaus Mlynek, Waldemar R. Röhrbein (eds.) U. a .: City Lexicon Hanover . From the beginning to the present. Schlütersche, Hannover 2009, ISBN 978-3-89993-662-9 , p. 479f.

Web links

Commons : Norddeutsche Landesbank  - collection of images, videos and audio files

Individual evidence

  1. ↑ a b Master data of the credit institute at the Deutsche Bundesbank
  2. ↑ https://www.nordlb.de/ueber-uns/historie/
  3. ↑ a b c Federal Gazette. Retrieved May 29, 2019 .
  4. ↑
  5. ↑ NORD / LB Hanover. Press material. NORD / LB Norddeutsche Landesbank, accessed on November 30, 2015 .
  6. ↑ a b c d e State aid NN 34/2007 (ex CP 189/2004) - Germany capital injections NORD / LB. European Commission, July 18, 2007, accessed April 8, 2019 .
  7. ↑ a b c State aid SA.34381 (2012 / N) - Germany Restructuring aid to Norddeutsche Landesbank AöR. European Commission, July 25, 2012, accessed April 8, 2019 .
  8. ↑ Silent participations and special purpose vehicles at NORD / LB (Part 2) printed matter 18/1205. Lower Saxony Ministry of Finance, June 27, 2018, accessed April 8, 2019 .
  9. ↑ History 2008. Retrieved September 11, 2017.
  10. ↑ share affair Executive NordLB are on guard . In: Spiegel Online . April 2, 2008 ( spiegel.de [accessed March 23, 2019]).
  11. ↑ Stock affair costs board the job . In: sueddeutsche.de . 2010, ISSN  0174-4917 ( sueddeutsche.de [accessed on March 23, 2019]).
  12. ^ Claim for damages: NordLB wants 150 million from Lars Windhorst. Retrieved March 22, 2019 .
  13. ^ Court ruling: Windhorst has to pay damages to NordLB. Retrieved March 22, 2019 .
  14. ↑ Millionaire lawsuit against Credit Suisse off the table | NZZ . November 7, 2011, ISSN  0376-6829 ( nzz.ch [accessed on March 23, 2019]).
  15. ↑ Export finance transactions: fraud in the millions burdened NordLB. Retrieved April 9, 2019 .
  16. Jump up ↑ Nord / LB | NZZ . February 19, 2010, ISSN  0376-6829 ( nzz.ch [accessed April 9, 2019]).
  17. ↑ 130 million fraud: NordLB has to support Swiss subsidiary. Retrieved April 9, 2019 .
  18. ↑ Supplementary Budget 2011 | Nds. Ministry of Finance. Retrieved March 22, 2019 .
  19. ^ Lower Saxony Ministry of Finance: Supplementary budget for the 2011 budget year. State of Lower Saxony, May 26, 2011, accessed on March 22, 2019 .
  20. ↑ State aid: Commission approves restructuring aid for NORD / LB. European Commission, July 25, 2012, accessed March 22, 2019 .
  21. ↑ European Commission - Press release - State aid: Commission approves changes to the restructuring plan of the German NORD / LB. Retrieved March 22, 2019 .
  22. ^ NordLB: Fines for business in Luxembourg threaten. Retrieved March 22, 2019 .
  23. ↑ Aid for tax evasion: NordLB Luxemburg has to pay a fine of millions. March 23, 2016, accessed March 22, 2019 .
  24. ↑ Rethink Covered Banking A bank is so much more. What we want is what we are Annual Report 2016. NORD / LB Luxembourg SA Covered Bond Bank, March 31, 2017, accessed on April 26, 2019 .
  25. ↑ Banks & Insurance | Nds. Ministry of Finance. Retrieved March 24, 2019 .
  26. ↑ Bremer Landesbank is now part of NordLB. Retrieved March 24, 2019 .
  27. ^ Bremen and Lower Saxony sign the state treaty on the Bremer Landesbank | Nds. Ministry of Finance. Retrieved March 24, 2019 .
  28. ^ State treaty between the Free Hanseatic City of Bremen and the State of Lower Saxony on the Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -. Lower Saxony Ministry of Finance, November 14, 2016, accessed on March 23, 2019 .
  29. ↑ External appearance: Nord / LB is gradually replacing the BLB brand. January 30, 2018, accessed November 19, 2019 .
  30. ↑ Only Nordlb as a brand: Bremer Landesbank should disappear from the market. Nordwest-Zeitung, January 30, 2018, accessed on November 19, 2019 .
  31. ↑ 2.4 billion euros loss: NordLB closes 2018. Retrieved November 6, 2019 .
  32. ↑ NordLB: Group presentation 2019. August 1, 2019, accessed on November 6, 2019 .
  33. ^ NDR: Budget Committee advises on Nord / LB future. January 28, 2019, accessed November 19, 2019 .
  34. ^ Anne Kunz: Nord / LB: Taxpayers should lift the rescue . Ed .: World. January 28, 2019 ( welt.de [accessed November 19, 2019]).
  35. ↑ Hanno Mußler: Nord LB in need Sparkassen decide the reference provisions Nord LB . ISSN  0174-4909 ( faz.net [accessed November 19, 2019]).
  36. ↑ Hanno Mußler: business figures: Tricky rescue plan for the Nord LB . ISSN  0174-4909 ( faz.net [accessed November 6, 2019]).
  37. ↑ Taxpayers' Association: stop NordLB rescue. Süddeutsche Zeitung, accessed on November 6, 2019 .
  38. ↑ 3.6 billion euros: EU Commission approves cash injection for Nord LB . ISSN  0174-4909 ( faz.net [accessed December 5, 2019]).
  39. ↑ By Katharina Vössing: Ship crisis depresses profit of Nord-LB. Braunschweiger Zeitung, April 23, 2013, accessed on November 19, 2019 (German).
  40. ↑ Special check: banking supervision raises the alarm in the case of ship loans. January 2, 2013, accessed November 19, 2019 .
  41. ↑ Shipping crisis: NordLB profit collapses. April 23, 2013, accessed November 19, 2019 .
  42. ↑ Financial Times Deutschland April 8, 2009: Danger to rescue plan - Nord / LB takes HSH business away ( Memento from August 3, 2012 in the web archive archive.today )
  43. ↑ Press kit Warburg Invest AG. Warburg Invest AG, December 28, 2018, accessed April 7, 2019 .
  44. ↑ Press release Majority takeover of NORD / LB Asset Management AG by Warburg Bank completed - NORD / LB. Retrieved March 22, 2019 .
  45. ↑ Imprint BLB Leasing. Retrieved March 23, 2019 .
  46. ↑ Press release - NORD / LB capital measures implemented. December 23, 2019, accessed December 27, 2019 .
  47. ^ A b NORD / LB Norddeutsche Landesbank: Press release - NORD / LB. Retrieved March 21, 2017 .
  48. ↑ Vita Christoph Dieng. NORD / LB, accessed on March 22, 2019 .
  49. ↑ Portrait (PDF; 51 kB)
  50. ↑ Christoph Schulz re-elected for another five years. Press release. NORD / LB Norddeutsche Landesbank, March 29, 2011, archived from the original on July 1, 2013 ; accessed on November 30, 2015 .
  51. ^ Vita Günter Tallner. NORD / LB, accessed on March 22, 2019 .
  52. ↑ Committees and organs - NORD / LB. Retrieved January 14, 2020 .
  53. ↑ www.nordlb.de: Portrait ( Memento from December 8, 2015 in the Internet Archive ) (PDF; 50 kB)
  54. ↑ Waldemar R. Röhrbein : Pleister, Wilhelm. In: Dirk Böttcher , Klaus Mlynek, Waldemar R. Röhrbein, Hugo Thielen : Hannoversches Biographisches Lexikon . From the beginning to the present. Schlütersche, Hannover 2002, ISBN 3-87706-706-9 , pp. 287f .; online through google books

Coordinates: 52 ° 22 ′ 3 ″  N , 9 ° 44 ′ 29 ″  E