Bremer Landesbank Kreditanstalt Oldenburg -Girozentrale-
Bremer Landesbank Kreditanstalt Oldenburg -Girozentrale-: Bremer Landesbank expects a loss according to IFRS in the amount of a high three-digit million figure due to a high risk provisioning in its portfolio of shipping loans.
Bremer Landesbank Kreditanstalt Oldenburg -Girozentrale- / Key word(s): Final Results 23.11.2016 22:14 Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Public disclosure of inside information pursuant to Article 17 MAR Bremer Landesbank expects a loss according to IFRS in the amount of a high three-digit million figure due to a high risk provisioning in its portfolio of shipping loans. Conclusion of a controlling agreement with NORD/LB and application for ECB waiver from certain own funds requirements scheduled for 2017. Bremen, 23 November 2016: On the basis of a planning resolved upon today, the Management Board (Vorstand) of Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale - ("BLB") expects, for the entire financial year 2016, a loss according to IFRS in the amount of a high three-digit million figure. The reason for the loss is the high risk provisioning in its portfolio of shipping loans in the amount of around one billion Euros. In connection with the envisaged takeover of all shares in BLB by NORD/LB Norddeutsche Landesbank Girozentrale, the Owners' Meeting (Trägerversammlung) of BLB will, on 2 December 2016, decide on the conclusion of a controlling agreement with effect as from 1 January 2017 between NORD/LB as controlling entity and BLB as controlled entity. In case of the conclusion of the controlling agreement, NORD/LB would be under the obligation to compensate BLB for any annual deficit, to the extent this deficit is, following a decision of the Owners' Meeting of BLB, not compensated by means of a withdrawal from other retained earnings. In this context, following the conclusion of a controlling agreement, it is furthermore envisaged to file an application with the European Central Bank for a waiver from the application of certain regulatory requirements in respect of BLB's own funds in accordance with article 7 of the capital requirements regulation. Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale - The Management Board (Vorstand) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale - Domshof 26 28195 Bremen Germany Contact: Fred Walther, Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale -, Investor Relations, Tel.: +49 421 332 2453 E-Mail: investor- relations@bremerlandesbank.de, Fax: +49 421 332 2649 ISIN: DE000BRL9774 Listed: Hamburg Stock Exchange - Regulated Market A full overview of all own issues of Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale - (ISIN, Stock Exchange, Segment) is available on the website of Bremer Landesbank Kreditanstalt Oldenburg - Girozentrale - under: https://www.bremerlandesbank.de/english-website/ad-hoc-announcements/ 23.11.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Bremer Landesbank Kreditanstalt Oldenburg -Girozentrale- Domshof 26 28195 Bremen Germany Phone: +49 (0)421-322-0 Fax: +49 (0)421-322-2322 E-mail: kontakt@bremerlandesbank.de Internet: www.bremerlandesbank.de ISIN: XC000A1ELUR9 WKN: A1ELUR Listed: Regulated Market in Hamburg; Open Market in Frankfurt ; London, Luxemburg https://ir-cockpit.equitystory.com/cgi-bin/main.ssp?fn=show_important_contacts&activate_menu=contacts&language=Deutsch End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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