Integration of Deutsche Hypo into NORD/LB completed

Real estate finance remains an important pillar in NORD/LB’s business model

As announced, NORD/LB Norddeutsche Landesbank has fully integrated its real estate financing subsidiary Deutsche Hypothekenbank (Actien-Gesellschaft), which was previously legally independent. The formal mer-ger of the two banks was completed today with the corresponding entries in the commercial registers. The decision to fully integrate Deutsche Hypo had already been taken by the Board of Management and the executive bodies of NORD/LB last year.

The integration of Deutsche Hypo, which is now being completed as planned, is an important contribution within the framework of the trans-formation program NORD/LB 2024. Both the Deutsche Hypo brand and its locations in Germany and abroad will be retained.

“The work in preparation for the legal merger of Deutsche Hypo with NORD/LB has been exemplary,” said Thomas Bürkle, Chairman of the Board of Managing Directors of NORD/LB. “We were able to keep to the schedule and are looking forward to welcoming our new colleagues. Even after the integration, we intend to maintain the Deutsche Hypo brand. Commercial real estate financing remains an important pillar in NORD/LB’s business model. We are a major player that the market will have to reckon with in the future as well.”

A total of around 400 employees are formally transferring to NORD/LB. They were previously included in the number of employees of the NORD/LB Group, which amounted to around 4,500 as of March 31. With a financing volume of €12.5 billion, Deutsche Hypo is one of Germany’s ma-jor real estate financiers.