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DG HYP continues its successful business performance during the first half of 2016

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DG HYP continued its favourable business development during the first half of 2016, increasing its new Commercial Real Estate Finance business volume year-on-year – to approximately € 3.4 billion (H1 2015: € 2.2 billion). Joint lending with German cooperative banks was also intensified and amounted to € 1.1 billion as at 30 June 2016, improving upon the previous year’s level (H1 2015: € 972 million). DG HYP does business jointly with more than 400 cooperative banks in regional markets throughout Germany.

DG HYP’s financial performance reflects its successful operating performance during the period under review. At € 134.1 million, net interest income was in line with the previous year’s figure, whilst the net commission result increased to € 17.4 million, driven by higher income from the lending business (30 June 2015: € 12.9 million). At the same time, administrative expenses declined to € 71.7 million, after € 75.4 million in the previous year. This figure includes the bank levy of € 15.4 million – which is € 9.6 million lower than in the previous year. DG HYP's credit portfolio continues to benefit from an absence of any obvious risks, leading to a minor net release of loan loss provisions for the first half of 2016. Risk provisioning of € -13.4 million therefore reflects a considerable addition to general risk provisions pursuant to section 340f of the German Commercial Code (HGB). Given the absence of any non-recurring charges to the net financial result (as was the case in the first half of 2015, with a write-down on claims against HETA Asset Resolution AG), operating profit increased markedly, to € 69.6 million (30 June 2015: € 39.3 million).


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