NordLB set to report 90 mln euro H1 pre-tax loss - sources


BERLIN, Aug 31 (Reuters) - German lender NordLB NDLG.UL posted a loss for the first half of the year after higher interest rates led to a revaluation of pension obligations in the first quarter, several people familiar with the figures told Reuters.

The pre-tax loss for January to June came to around 90 million euros, the people said, as profits in the second quarter were not sufficient to offset a 122 million euro loss NordLB had reported for the first quarter.

One source said the bank's operating business was on track, with rising net interest income and net fee and commission income as well as a significant increase in new lending business.

One of the people said that management was sticking to its full-year 2022 goal for a rise in profits compared with 2021.

The bank, which is due to publish its first-half results later on Wednesday, declined to comment.

In 2019, the bank was rescued with 3.6 billion euros by its owners, which include the German states of Lower Saxony and Saxony-Anhalt as well as savings banks.

The bank had struggled with billions of euros of losses from non-performing shipping loans.

($1 = 0.9961 euros)

(Reporting by Klaus Lauer; Writing by Maria Sheahan)

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