Half Sized, But Still in Shipping

After reporting last week a preliminary consolidated net loss of EUR 2.8 billion before restructuring costs, taxes and loss participation, HSH Nordbank provided more details on its strategic realignment. In terms of today’s crucial numbers, the capital base is to be increased by EUR 3 billion with the bank to be shielded from further risks to the tune of EUR 10 billion.

“We are aware of our responsibilities. In particular, it is against the backdrop of the current macroeconomic setting that we, HSH Nordbank, are called upon more than ever to ensure lending to businesses and to key local industries. Our business purpose is clear: we are the top address for clients in our home region and for the shipping, transportation and renewable energies sectors,” said Dirk Jens Nonnenmacher

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