Categories: News

Norddeutsche Landesbank Girozentrale: Implementing the planned capital measures will only be possible in the 4th quarter of 2019

HANOVER,
GERMANY – EQS – 23 August 2019 – Norddeutsche Landesbank Girozentrale
(“NORD/LB”), its owners – the state of Lower Saxony, the state of
Saxony-Anhalt (together, the “States”), the Savings Banks Association
of Lower Saxony (Sparkassenverband Niedersachsen) and the Savings Banks
Holding Association in Saxony-Anhalt (Sparkassenbeteiligungsverband
Sachsen-Anhalt
) and the Special Purpose Holding Association of the Savings
Banks in Mecklenburg-Western Pomerania (Sparkassenbeteiligungszweckverband
Mecklenburg-Vorpommern
) (together with the States, the “Owners”)
– as well as the Savings Banks Finance Group (Sparkassenfinanzgruppe)
have reached agreement on all material points regarding the bank’s realignment
and the implementation of the planned capital measures. In this context,
NORD/LB, its Owners and the Savings Banks Finance Group are in close contact
with the relevant supervisory authorities and the EU Commission on an ongoing
basis.

In the course of these consultations with the relevant supervisory authorities
it became clear today that, due to the complexity of the proceedings and mutual
interdependencies, due to the necessity of consent by the EU Commission, which
has not yet been granted, due to the necessity of parlamentary proceedings in
the States and also due to the steps required with respect to the regulatory
proceedings, the implementation of the capital measures previously envisaged
for the 3rd�quarter of 2019 may only be effected in the 4th quarter
of 2019.

NORD/LB is in close contact with the relevant supervisory authorities on an
ongoing basis also with respect to this adjustment of the previous timing and
the resulting delay in implementing the capital measures.

On this basis, taking into account the continuous progress made in the overall
process of realigning NORD/LB, NORD/LB’s Management Board expects that the
capital injection and the implementation of further capital measures will be
effected in the 4th quarter of 2019.

By implementing these capital strengthening and realignment measures, the
capital ratios of NORD/LB currently failing to meet the regulatory minimum
requirements will significantly increase and comply with all regulatory requirements.

Norddeutsche Landesbank – Girozentrale –

Friedrichswall 10

30159 Hanover

Germany

A full list of securities issues directly placed with investors by NORD/LB is available on NORD/LB’s website at:

https://www.nordlb.de/die-nordlb/investor-relations/investoreninformationen/aktuelles


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