Latest news from Heavy Lift & Project Forwarding International Magazine

HSH meets potential buyers

November 28 - Reports on the Reuters website, suggest that German bank HSH Nordbank has been meeting with potential buyers in London ahead of its planned privatisation next year.

The news agency reported that according to sources close to the situation HSH was holding meetings with various banks and investment houses.

HSH's owners are required to privatise the bank by the end of February 2018.

In June of this year, HSH transferred a portfolio of non-performing loans from ship financing with a volume of EUR5 billion (USD5.3 billion) to hsh portfolio-management AöR.

As reported by HLPFI last week, another German bank - Nord/LB - revealed a further decline in results and indicated that its full-year losses would surpass an eye-watering EUR1 billion (USD1.05 billion).

The bank placed the blame for this increase in losses down to another rise in the costs of risks within its shipping loan book, particularly that managed by its Bremer Landesbank subsidiary, which is being fully integrated into Nord/LB.


 

www.hsh-nordbank.com

 

www.nordlb.com

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