The Norddeutsche Landesbank (NORD/LB) is a credit institution in Germany, one of the largest commercial banks in the country.
Owned by the federal states of Lower Saxony and Saxony-Anhalt, the Bank has its headquarters in the cities of Hanover, Braunschweig, and Magdeburg (in all three cities it has administrative buildings).
Nord / LB was in 1970 through the merger of the formerly independent financial institutions in Lower Saxony Landesbank Girozentrale, Brunswick State Bank, including Brunswick Landessparkasse, Hannovarian Loan and Lower Saxony Apartment Kreditanstalt city shank. The bank is the universal successor of these institutions. Nord / LB is not the legal successor of the former Central German Landesbank – Girozentrale for the province of Saxony, Thuringia, and Anhalt (Magdeburg-based).
The main business activities include ship financing, the aircraft financing, project financing, renewable energy and infrastructure, the financing of commercial real estate (via its German subsidiary Deutsche Hypo), the corporate banking and retail banking. Landesbank Nord / LB also acts as a bank of Lower Saxony and Saxony-Anhalt. In addition, it is the central institution of savings banks in the states of Lower Saxony, Saxony-Anhalt and Mecklenburg-Vorpommern.
The Nord / LB financial group includes the following companies:
- Bremer Landesbank (54.83%)
- German mortgage bank (100%)
- Deutsche Hypothekenbank (100 %)
- Norddeutsche Landesbank Luxembourg (100 %)
- Öffentliche Versicherung Braunschweig (75 %)
- Öffentliche Versicherung Bremen (20 %)
- Nord/LB Asset Management
- Nord Holding (15 %)
- LBS Norddeutsche Landesbausparkasse Berlin-Hannover (44 %)
- Toto-Lotto Niedersachsen (49,85 %)
- Bremer Toto and Lotto (33,33 %)
- International Neuroscience Institute (22,67 %)
- Porzellanmanufaktur Fürstenberg (98 %)
- KreditServices Nord (100 %)
- LHI Leasing GmbH (49%).
- Balance sheet total: EUR 225 550 000 000
- Employees: 7,539