Successful for and with our clients, further improvement in our own structures, substantial wind-down of legacy assets and certainty about the privatisation process due to the final EU decision – 2016 was eventful as well as pointing the way for HSH Nordbank . It was a year during which we gave an impressive demonstration of our new operational strength – new business totalling €8.9 billion is no mean feat in a demanding setting. And this was without breaching our own quite strict risk parameters. Which shows: our Core Bank is healthy and full of vitality. In short: Good work – which is why this is the heading of our 2016 annual report.
But of course, we know that although 2016 was an important year, the decisive event will be the change in ownership scheduled for 2018. One thing is clear: in 2017 we will again do all it takes to make the change a success – among other things, by proving just how good HSH Nordbank is at doing their business. Among our clients we stand for competence, reliability and speed – in short: for GOOD WORK.
ROLLING UP OUR SLEEVES FOR ENTREPRENEURS
We are the ‘Bank for entrepreneurs’ – the Bank for people with foresight, passion and initiative. We are where our clients are: in our home region of North Germany, in the metropolitan regions of Germany and in selected foreign locations. Here we offer companies tailor-made finance solutions and assist them with our broad-based sector expertise. HSH Nordbank is one of the leaders in Germany for real estate financing. We are among the top players in Europe when it comes to realising renewable energy projects, while we have a long tradition of expertise in the maritime industry. The Corporate Client business is an important pillar of our Bank, which we aim to strengthen further: through commitment, single-minded determination and reliability. We seek to convince through performance because we are STRONG FOR ENTREPRENEURS.
HSH NORDBANK’S FOUNDATIONS
OPPORTUNITIES UP, RISKS DOWN
CLEARER OUTLOOK FOR THE FUTURE: Following the EU Commission’s final decision in the state aid proceedings, the underlying conditions of the change in ownership, scheduled to take place in 2018, have now been set. OPERATIONAL STRENGTH DEMONSTRATED: New business worth €8.9 billion demonstrates our competitiveness and shows that our business strategy is working. STRUCTURES FURTHER IMPROVED: We are systematically working to improve our internal structures. Our aim has been to become more reliable, faster and more accurate, all the while maintaining clear cost control. We have succeeded in doing so. LEGACY ASSETS REDUCED: In 2016, we wound down legacy assets amounting to about ten billion euros in EAD (exposure at default), with five billion euros through the portfolio transfer agreed with the EU to the AöR (Anstalt des öffentlichen Rechts, institution under public law) of the federal states. And roughly as much again through our ongoing wind-down programmes.