Our mission is to provide qualified management of the wind-down portfolio while preserving the assets of our owners, the federal states of Schleswig-Holstein and Hamburg.
Read moreportfoliomanagement is a public law institution and is wholly owned by the (German) federal states of Schleswig-Holstein and Hamburg. In its two departments experts across diverse functional areas work towards a value-preserving wind-down of the loans portfolio.
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“The further course of business in 2018 will depend to a large extent on the performance of the shipping markets, interest costs and EUR / USD price movements.”Ulrike HelferMember of the Board of Managing Directors
“It will remain a challenge to at least break even with a portfolio comprised exclusively of non-performing loans in highly volatile markets.”Dr. Karl-Hermann WitteMember of the Board of Managing Directors
"Asset-preserving resolution means: We work to minimize the loss incurred by taxpayers."Dr. Christopher MendrzykHead of Credit
"Our porcess stability has proven its worth in an environment of dynamic shipping markets."Dorothee KlinkmannSpeicialist Restructuring Management
"For us, 'we' represents a focus on teams, working together as equals and promoting individual strengths."Katrin RohwedderSpecialist Credit
In order to relieve the bank’s balance sheet from non-performing loans, Hamburg Commercial Bank AG (formerly HSH Nordbank AG) economically transferred a non-performing portfolio of shipping loans to portfoliomanagement with effect from 1 July 2016. The original exposure at default (EaD) as at the reference date, 31 December 2015, amounted to about five billion euros.
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The transferred portfolio consisted of 253 ships financed by Hamburg Commercial Bank AG (formerly HSH Nordbank AG) in the period from 1992 to 2014. From the construction of the ships to the shipping crisis from 2008 onwards to the transfer of the portfolio – the foundation of portfoliomanagement is based on a special genesis.
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