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DG HYP publishes interim report for the first half of 2015

DG HYP continued its successful business development during the first half of 2015: in a challenging competitive environment, new Commercial Real Estate Finance business of
€ 2,153 million was in line with the previous year's level (H1 2014: € 2,128 million).
At € 972 million (H1 2014: € 932 million), new lending business conducted jointly with the German cooperative banks was up slightly during the period under review.

DG HYP's financial performance continued to reflect its successful operating performance. Net interest income of € 134 million was in line with the same period of the previous year. Operating profit of € 39.3 million was down year-on-year, influenced by several special fac-tors – some of which impacted results as at the reporting date. These included a € 25 million write-down on a security issued by HETA Asset Resolution AG, a € 14.8 net increase in ex-penditure on the MBS portfolio, as well as a € 16 million increase in the bank levy. The amount payable, which is likely to be € 25.0 million for the full-year 2015, was already recog-nised in full as at 30 June 2015, unlike the same period of the previous year, where € 9.0 million was recognised on a pro-rata basis. Results of operations for the full year 2015 are expected to be in line with the level of the 2014 financial year.

More detailed information on DG HYP's business performance of DG HYP is available in its half-yearly financial report 2015.