April 1, 2019 / 5:35 PM / 6 months ago

NordLB 2018 annual loss to be less than 2.7 bln euro estimate - sources

FRANKFURT, April 1 (Reuters) - German lender NordLB’s loss for last year is expected to be less than its February estimate of around 2.7 billion euros ($2.24 billion), two sources familiar with the matter said on Monday.

It should however be more than 2 billion euros, still a record loss for the lender, the sources said.

While a restructuring deal has been agreed upon in principle, a future business model for NordLB has yet to be finalised by stakeholders, three sources said.

NordLB’s balance sheet could shrink from a total of 155 billion euros to a sum between 90 billion euros and 95 billion euros, one of the sources said.

NordLB declined to comment.

$1 = 0.8924 euros Reporting by Klaus Lauer; Writing by Edward Taylor; Editing by Jan Harvey

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