HSH Nordbank joints Kiel and Hamburg

Hamburgische Landesbank and Landesbank Schleswig-Holstein (LB Kiel) have successfully merged and will continue trading under the name HSH Nordbank. The transaction completed on 2 June 2003 with political support from both states. The new bank manages total assets of around e180bn and employs some 4,500 staff worldwide. The core business of HSH Nordbank will be ship and real estate finance, corporate banking, credit investments as well as funding. The merger is the first cross-state fusion of two Landesbanks in Germany.

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