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NordLB to refrain from ships financing business in the future: source

Published 04/02/2019, 06:52 AM
Updated 04/02/2019, 06:55 AM
© Reuters.  NordLB to refrain from ships financing business in the future: source

BERLIN (Reuters) - Germany's NordLB will step out of ships financing business and will reduce activity in its airplanes financing business, a source familiar with the matter told Reuters on Tuesday.

The source added that the German regional state of Saxony-Anhalt would contribute 198 million euros ($221.76 million) to rescue the ailing bank as part of a plan agreed by its owners - German savings banks and some regional states - in February.

Saxony-Anhalt did not expect dividends from the bank before 2024, the source added.

NordLB declined to comment.

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