Joint financing with Volksbank Erlangen-Höchstadt-Herzogenaurach eG



Katja Röder
Sustainability Officer

Phone: +49 (0)40/33 34-33 17
E-Mail: katja.roeder(at)


Economic Responsibility

Responsible Lending

Real estate is a key economic factor in Germany, with major significance for society as a whole. Commercial Real Estate Financing therefore remains an indispensable core business segment of the Volksbanken Raiffeisenbanken cooperative financial network, in which DG HYP – as the specialist, competence centre and the first point of contact for the German cooperative banks – assumes the key role on all issues of importance.

We assess properties according to strict risk and return criteria, as part of our risk-aware approach to lending. This includes the preparation of a lending and market valuation by our subsidiary VR WERT of a property’s economic, ecological, functional and socio-cultural stability. The valuation of real estate properties requires a differentiated, individual assessment of each exposure. It therefore requires a corresponding high level of competence by the valuer.

DG HYP’s capital markets funding is based primarily on Mortgage Pfandbriefe issuance. Issuing Pfandbriefe is subject to the strict requirements of the German Pfandbrief Act (Pfandbriefgesetz), which protects the Pfandbrief creditor. The high credit quality of a Pfandbrief rests in the substantial collateralisation – through first-class claims and land charges. In this respect, the Pfandbrief is – in every sense – a long-term funding vehicle that meets investors' security and transparency criteria. In a history spanning more than 200 years, not a single Pfandbrief has defaulted in Germany.