Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

NordLB looking at options for Deutsche Hypo, including sale

Euronews logo
Text size Aa Aa

BERLIN (Reuters) – German bank NordLB will consider selling or fully integrating its property lending division Deutsche Hypo, according to documents detailing rescue plans for the German bank seen by Reuters on Monday.

NordLB, struggling with writedowns on bad shipping loans, is to be rescued with 3.6 billion euros by its owners, which include the states of Lower Saxony and Saxony-Anhalt as well as savings banks.

NordLB has been considering what to do with the profitable division. In April, sources familiar with the matter said NordLB had been planning to hold on to it after looking into a potential sale.

The alternative scenarios are to be examined by 2021, according to the documents, which ruled out a partial sale of the property business.

NordLB decline to comment.

(Reporting by Klaus Lauer; Writing by Tom Sims. Editing by Jane Merriman)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.