HSH Nordbank posts 2014 profit on state guarantee boost

April 1, 2015 8:30 AM

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FRANKFURT, April 1 (Reuters) - HSH Nordbank posted a net profit of 159 million euros ($170.81 million) in 2014, its first profit since 2010, as the bank cut costs and claimed back hundreds of millions of euros from a government guarantee scheme.

The state-owned bank, which was rescued in the financial crisis, claimed 781 million euros from a state-run guarantee scheme that ensures that the bank's regulatory core capital ratio remains at 10 percent.

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