ShippingWatch

NordLB acquires struggling shipping bank

Germany's second-largest shipping bank has acquired full ownership of Bremer Landesbank, which is similarly strained by non-performing shipping loans. Seller is the Bremen city council.

Photo: Hamborg Havn

State-owned German bank NordLB, the country's second-largest lender to the shipping sector, has taken full ownership of somewhat smaller lender Bremer Landesbank, which is also struggling with big losses due to non-performing shipping loans.

Bremer Landesbank informs in a statement that the Bremen city council will receive EUR 180 million, or close to USD 200 million, for its 41 percent stake in the bank.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Bawat targets Stockholm listing to raise fresh capital

With an IPO in Stockholm, ballast water system supplier Bawat aims to secure capital for the company’s continued development. The listing comes just six months after the company’s latest cash injection. ShippingWatch has spoken to CEO Marcus Hummer.

Further reading

Related articles

Latest news

See all jobs