Savings banks and Lower Saxony are getting closer in the dispute over the future of NordLB

2023-05-30 18:04:27

NordLB

Many savings banks are critical of the Landesbank’s growth course.

(Photo: dpa)

Hannover, Frankfurt The owners of NordLB want to settle their dispute about the future orientation of the institute and the introduction of new bank management as soon as possible. He assumes that a corresponding decision “will be made relatively quickly,” said Lower Saxony savings bank president Thomas Mang on Tuesday.

The Lower Saxony savings banks and the state of Lower Saxony together hold two-thirds of NordLB. For months they have been wrestling with the other savings banks in Germany about the future direction of the bank.

The federal German savings banks, which have held around 24 percent since the rescue of NordLB three and a half years ago, are critical of the Hanover bank’s growth course and find the plans for new bank management oversized.

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