NordLB to Inject Capital right into Bremer Landesbank After Shipping Writedowns
FRANKFURT, March 10 (Reuters)– German state-controlled lending institution NordLB will certainly infuse cash right into its loss-making Bremer Landesbank (BLB) system, which is dealing with a weak delivery market that is trying its resources.
BLB stated it scheduled a writedown of 1.6 billion euros ($ 1.71 billion) on its delivery publication in 2016.
NordLB stated that it would certainly, nevertheless, not require to touch its very own public-sector investors to stump up the cash for the cash money shot.
NordLB has actually stated in the past that it anticipates a 2016 loss of greater than 1 billion euros.
BLB, which has around 30 billion euros in properties, was taken control of totally by NordLB inJanuary ($ 1 = 0.9378 euros) (Reporting by Arno Schuetze; Editing by Harro 10 Wolde)
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