realigning its activities to focus on two global active business
units in the new year. These are understood to be the bank’s
shipping and transportation units.
The bank said it would reduce its balance sheet from €200
billion to €120 billion, and move away from its leasing operations,
amongst other business lines.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The transportation unit will primarily focus on aviation and
infrastructure. At this stage it is unclear what the effect will be
for the Railpool joint venture, which HSH Nordbank owns in
conjunction with KfW-IPEX Bank.
“HSH Nordbank cannot extricate itself from the global financial
crisis,” said the bank, in a statement. “The changes in the global
banking landscape necessitate a significant restructuring, and the
total assets of the core bank are set to be considerably
decreased.”
The decision about the realignment of HSH Nordbank will be made
in February 2009.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
