Pre-tax profit for the first half rose to € 432 million – forecast reaffirmed
HSH Nordbank maintained the positive trend of the first quarter, reporting a solid profit as well as strong capital ratios at the half-year mark. This encouraging performance is based to a major extent on rising income from new business with clients on steady margins, decreasing administrative expenses as well as the expected considerably lower loan loss provisioning than in the previous year. Against the backdrop of this good performance in its operating business, HSH Nordbank reaffirmed its forecast and still projects a profit before and after taxes for the year as a whole.
HSH Nordbank finances two solar park portfolios in the south of France
HSH Nordbank is providing finance to its long-standing client, GP JOULE Group of Reussenkröge, for the two solar park portfolios Aquitaine and Biscaya in the south of France.
Expert Market Survey: Shipping industry takes an optimistic view of the future
Confidence among shipping companies in the industry continues to grow – in 2014 a clear majority of companies expect increased turnover and more than 40 per cent expect higher profits in comparison to the previous year.
HSH Nordbank integrates its M&A-advisory business
The integration of the former subsidiary HSH Corporate Finance GmbH into HSH Nordbank is completed. The required entries in the Commercial Register were carried out at the beginning of July. With the integration in the newly created business unit Corporate Finance, HSH Nordbank does not only strengthen the cooperation between M&A-advisory and its other market units but also enhances the interaction between its various product experts. The competencies and service portfolio of HSH Corporate Finance GmbH, which was established in 2002, will be maintained.
HSH Nordbank finances EuroCore office building in Munich
HSH Nordbank is providing a Maple Knoll Capital and a group of investors with portfolio finance of EUR 90 million for an office building in Munich's Allach district. The 60,000 sqm in office space is fully let.
HSH Nordbank starts fiscal 2014 with a good first quarter
As expected, HSH Nordbank started into fiscal 2014 with a good first quarter, underpinned by operating successes in the Core Bank, progressing organisational improvements and reduced loan loss provisioning expense.
HSH Nordbank finances two wind farms in northern France
HSH Nordbank is providing finance for two wind farms with a nominal total output of 26 megawatts (MW) in the Picardy region (Saint Riquier 3 with 14 MW and Saint Riquier 4 with 12 MW) for the Impax Asset Management Group. The long-term project finance amounts to a good EUR 31 million, with refinancing done via the KfW 270 Renew-able Energies programme.
HSH Nordbank and KfW IPEX-Bank sell their shares in Railpool
HSH Nordbank AG and KfW IPEX-Bank GmbH have sold their shares in Railpool GmbH and Railpool Holding GmbH & Co. KG (together Railpool) to funds managed by Oaktree Capital Management, today. The purchase price was not disclosed.
New HSH Nordbank Supervisory Board to be elected
The Nominating Committee of HSH Nordbank has proposed the shareholder representatives for the Supervisory Board to be newly constituted to the Bank’s annual general meeting. Apart from Dr. Thomas Mirow as Chairman of the Supervisory Board, Messrs. Stefan Jütte, Dr. Rainer Klemmt-Nissen, Thomas Losse-Müller and Dr. David Morgan are to be proposed to the annual general meeting for re-election.
Stefan Rensinghoff heads Corporate Finance division
On 1 April Stefan Rensinghoff took charge of the Corporate Finance division. Most recently he worked as an independent management consultant advising companies on questions relating to finance and was a member of the Interministerial Committee for Export Guarantees. Prior to that Mr. Rensinghoff was the Management Board member responsible for corporate client business at the Austrian company Investkredit AG and was division Head in charge of structured finance at DZ Bank.
HSH Nordbank providing finance for GAGFAH GROUP real estate portfolio
HSH Nordbank has provided the GAGFAH GROUP with finance of EUR 176 million for a portfolio comprising more than 4,400 residential as well as 20 commercial units with living and useable floor space totalling almost 280,000 square metres. Some of the properties are held for sale in the short to medium term. About 85 percent of the residential units are located in the district town of Heidenheim (Baden-Württemberg) and its surroundings.
Core Bank making progress in terms of operating profit – capital ratios strengthened by guarantee
In 2013 HSH Nordbank made gratifying progress in operating terms as a “Bank for entrepreneurs” above all in its business with corporate and real estate clients while at the same time improving its capital ratios. As expected, high loan loss provisions resulting from the difficult situation on the shipping markets as well as substantial expenditure for the guarantee provided by the federal states of Hamburg and Schleswig-Holstein led to a loss in the nine-digit range. HSH Nordbank plans to return to profit territory in 2014 as a whole and the start to the year looks promising: the Bank projects a pre-tax profit of EUR 200 million in the first quarter.
HSH Nordbank refinances two Office properties in Frankfurt
HSH Nordbank is providing an American investment firm with 95.25 million euros to refinance two office properties with total floor space of 58,000 sq m.
HSH Nordbank finances Hamburg real estate portfolio for US investor Castlelake
HSH Nordbank is making EUR 200 million available to the US Castlelake Group to finance the purchase of a commercial real estate portfolio in Germany. The Hamburg-based Becken Group is participating in the purchase, which was completed at the end of last year, as a co-investor.
Markus Paffenholz becomes Managing Director of HSH Corporate Finance
Markus Paffenholz, currently joint managing director of HSH Corporate Finance, is set to assume responsibility for the operations of the HSH Nordbank subsidiary. The current managing director Markus Schütz, who came from Deutsche Bank to join HSH Corporate Finance in November 2012, will leave the Company at the end of January 2014 by mutual agreement.