HSH Nordbank rejects article in the FT
Hamburg/Kiel, September 23, 2011 - The statement in todays article in the FT, that HSH Nordbank requires recapitalisation, is wrong.
With an actual Capital Ratio of 18.0% (as of 30 June) the bank is, even in an international comparison, well capitalised. This view is shared by our national regulator (BaFin). The statement in the FT is referring to the results of the EBA Stresstest in July 2011, which after the formal conclusion of the state aid proceedings relating to HSH Nordbank on September 20 has lost its relevance for the bank. Taking this EU-decision into account, the Core Tier 1 Ratio of HSH Nordbank in the adverse scenario of the EBA Stresstest would have been at a comfortable 9.1%.
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
This press information can contain forward-looking statements. These statements are based on our beliefs and assumptions, on information currently available to us which we consider reliable. Forward-looking statements include all statements which are not historical facts, including information concerning future growth prospects and future economic developments.
Such forward-looking statements are based on assumptions relating to future events and are subject to uncertainties, risks and other factors, a large number we cannot influence. Thus actual events can differ considerably from the forward-looking statements made. We make no warranty for the correctness or completeness of these statements or the actual occurrence of the statements made. Furthermore, we assume no obligation for updating the forward-looking statements after this information has been published.