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HSH Said to Confirm Outlook as Talks With Potential Buyers Start

  • Hamburg lender still sees lower profit on legacy ship loans
  • Said to talk with potential buyers before formal sale starts

HSH Nordbank AG will stick to its full-year outlook when it reports nine-months results next week, a crucial yardstick for potential investors as the bank starts to gauge interest in its planned privatization, according to a person with knowledge the plans.

State-owned HSH still expects significantly lower net income in 2016 as the legacy shipping loan book continues to be a burden, with writedowns on maritime credits seen at roughly 600 million euros ($638 million) in the second half, the person said ahead of the bank’s planned interim report publication on Dec. 9.