BERLIN Feb 14 German public-sector lender
NordLB is not planning a merger with peer HSH Nordbank
, its Chief Executive said in reaction to comments from
an HSH stakeholder that such a deal could make sense.
"We are not examining (a merger) and have no considerations
on this," Gunter Dunkel told Reuters on Friday, adding he still
sees no advantages from a combination of the two so-called
The head of the association of savings banks in the state of
Schleswig-Holstein - which hold 5.31 percent in HSH Nordbank -
said earlier this month there were no longer any reasons for
having two large public-sector ship financiers in Germany.
NordLB's Dunkel also said that in some shipping segments he
expects a tentative recovery of freight rates in 2015 and a
return to long term averages in 2016.
According to the bank, the rebound will not occur in the
bulker and oil tanker segments.