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