Deals
China Not Europe May Salvage HSH as German Bank Looks East
- Chairman says bank’s Mittelstand ties have appeal in China
- Macquarie and BofA buy aviation, real estate loans from HSH
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As Thomas Mirow considers potential acquirers for HSH Nordbank AG, the German state-owned lender put up for sale this week, he says a Chinese suitor is more likely than a buyer from a nearby country.
Despite a push by European lawmakers to bolster cross-border ties, banks are “shrinking their balance sheets rather than expanding them” because of tougher regulations and reduced profitability, said Mirow, the supervisory board chief at HSH.