Nord / LB assumes Bremer Landesbank BLB completely – for 262 million euros – SPIEGEL ONLINE

 
 
 

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Banner with BLB logo in Bremen

Because lazy boat loans Bremer Landesbank was in difficulty. Now she is completely taken over by the parent company Nord / LB – for 262 million euros

the North German Landesbank (Nord / LB) is the Bremer Landesbank (BLB) completely take over and thus resolve the capital problems at its subsidiary. This was announced by the three carriers of the BLB with late Wednesday. The state of Bremen holds 41 percent of the BLB – it pays the Nord / LB total of 262 million euros. Of these, 180 million euros cash benefits

The remaining 82 million euros arising from three major investments, which are extracted from the BLB and go to Bremen. It is the “harbor sensitive” Bremer Lagerhaus-Gesellschaft BLG and the housing companies and Gewoba BREBAU.

BLB CEO Stephan-Andreas Kaulvers and his deputy Heinrich Engelken have placed their posts available. The followers are to be determined at an extraordinary board meeting in a few weeks.

“With the result we are satisfied. But I will not deny that this is a loss for Bremen,” said Bremen’s Senator of Finance Karoline Linnert (Green ). Nord / LB CEO Gunter Dunkel spoke of a difficult but acceptable result.

Why BLB ran into difficulties

In the BLB 1000 employees employed at the Bremen and Oldenburg. It should be subject to job cuts. How much and in what areas is still open. Lower Saxony Finance Minister Peter-Jürgen Schneider (SPD) had said months ago that probably ten per cent of the bodies were on the brink

In early June the list at the BLB became public. Had the European Central German from the second smallest Landesbank requires a significantly higher risk provisions for ship loans. By thus necessary provisions a loss of 350 to 400 million euros at the bank by the end awaits.

But the BLB could not lift the, the chronically strapped budget emergency state of Bremen closed mainly because of state aid hurdles own capital injection out. NordLB declared early to step in. The price of this readiness is now taking over.

The half-year figures BLB

Immediately after agreement laid the BLB their semiannual financial statement before the expected deep in the red auswies. The first six months of this year, she finished with a loss of 384 million euros after tax. For the first time as BLB from losses. In the first half of 2015, the Bank Reuters

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   Thursday, 01/09/2016 – 03:13

 

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