The Norddeutsche Landesbank from Hanover is under pressure from the banking supervisory authority.
(Photo: dpa)
Frankfurt The situation at Norddeutsche Landesbank (NordLB) is coming to a head. While the owners are arguing about the future direction of the money house, the institute is now also having trouble with the ECB banking supervision. Inspectors believe NordLB needs to better monitor its risks, several people familiar with the matter told Handelsblatt. They put pressure on the bank to remedy the existing deficiencies.
In order to solve the problems, the management around CEO Jörg Frischholz would like to introduce a new bank control with which data can be collected more quickly and risks can be better monitored. This would cost more than 500 million euros across all expansion stages, said several insiders.
A decision on bank management, which was actually supposed to be made at a sponsors’ meeting in December 2022, was postponed several times due to resistance from the German savings banks.
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