Company:Düsseldorfer Hypothekenbank
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| Type | Corporation |
|---|---|
| Industry | Mortgage bank |
| Founded | 19 March 1990 |
| Headquarters | Düsseldorf, Germany |
| Total assets | €6.866 billion (2016)[1] |
Number of employees | 65 (2016)[1] |
| Website | www |
The Düsseldorfer Hypothekenbank AG, also known as DüssHyp, is a mortgage bank based in Düsseldorf that specializes in government and real estate financing.[2] (Until the mortgage bank law was abrogated, this term referred to a private law credit institution granting long-term loans secured by mortgages and loans to public authorities.) Refinancing takes place through issuing bonds via the capital market.[3]
The bank specializes in commercial real estate financing. It only engages in direct business to a limited extent; the focus is on syndicate business.
History
The institute was founded by the entrepreneur :de:Wolfgang Schuppli . As a consequence of the world-wide financial crisis in 2007, it was necessary for the deposit guarantee fund (:de:Einlagensicherungsfonds) of the Federal Association of German Banks (BdB) to take over the shares in 2008. It sold them in 2010 to LSF5 German Investments II, L.P. in Delaware, United States (94%) and to LSF5 Riverside Ltd. & Co KG in Frankfurt, Germany (6%)[4] companies belonging to the Lone Star Group.[5] This group was also a shareholder of the Corealcredit Bank. Schuppli later sued the BdB and other defendants for approx. € 500 million in damages because the sale came only through threat and coercion.[6] The charge was dismissed in the first instance. The balance sheet total decreased to € 11 billion as of 30 June 2013 compared to the end of the previous year.[7] The accumulated loss amounted to € 516.4 million in mid-2013; This result was essentially based on the loss carryforward, thus largely coming from the result of earlier financial years. In December 2013, with the maturity of a bond issued by the Düsseldorfer Hypothekenbank of 1.1 billion, the last remaining liquidity guarantee of the SoFFin was repaid.[8]
The Lone Star Group - allegedly - sold their shares to the MainFirst founder Patrick Bettscheider and the United Kingdom investment company Attestor Capital.[9] However, it became known in March 2015 that the Düsseldorfer Hypothekenbank once again faced bank failure in the wake of the Hypo Alpe Adria crisis, implying that the ownership status was unclear.[10]
On 15 March 2015, the Federal Association of German Banks announced that the private-sector deposit guarantee fund provided a guarantee for the so-called Heta bonds in order to eliminate the acute risks. The aim is to take over the bank through the Deposit Guarantee Fund.[11] According to its 2017 Annual Report, an investment company of the Deposit Guarantee Fund is the sole shareholder.[12]
The Bank is a member of the Association of German Banks (:de: Bundesverband deutscher Banken )and the Verband deutscher Pfandbriefbanken'.[13]
Key figures
| Reference number | 2016[1] | 2015[14] | 2014[15] | 2013 |
|---|---|---|---|---|
| New real estate business (EUR million) | 0 | 162 | 712 | 494 |
| Real estate loans portfolio (EUR million) | 1.033 | 1.405 | 1.213 | 1.093 |
| Capital markets (portfolio) (EUR million) | 4.478 | 5.445 | 8.445 | 9.462 |
| Earnings after taxes (EUR million) | −94,0 | −40,7 | −42,0 | −59,6 |
| Core capital ratio | 13,1 % | 10,5 % | 10,8 % | 13,2 % |
References
- ↑ 1.0 1.1 1.2 "2016 Gschäftsbericht". 2017. https://www.duesshyp.de/fileadmin/user_upload/publikationen/170330_Duesseldorfer_Hypothekenbank_Geschaeftsbericht_2016.pdf.
- ↑ Osman, Yasmin (12 August 2010). "Erblasten reißen Düsselhyp tief in die Verlustzone". https://www.handelsblatt.com/finanzen/banken-versicherungen/hypothekenbank-erblasten-reissen-duesselhyp-tief-in-die-verlustzone/3514040.html.
- ↑ Hölscher, Reinhold. "Hypothekenbanken Definition". https://wirtschaftslexikon.gabler.de/definition/hypothekenbanken-34977.
- ↑ "Ausgewählte Finanzdaten". 2012. http://www.pfandbrief.de/cms/_internet.nsf/0/41952EC4D60110BFC1257BFE00409202/$FILE/FBPDDuessHyp.pdf.
- ↑ Stricker, Arnd (7 December 2010). "Verkauf der Düsseldorfer Hypothekenbank an die Lone Star–Gruppe vollzogen". https://www.duesshyp.de/fileadmin/user_upload/PM_Closing.pdf.
- ↑ "Rekordklage beim Landgericht". 19 October 2009. https://rp-online.de/nrw/staedte/duesseldorf/rekordklage-beim-landgericht_aid-12042015.
- ↑ Mussler, Hanno (16 March 2015). "Bankenverband übernimmt Bank in Not". https://www.faz.net/aktuell/wirtschaft/bankenverband-uebernimmt-duesseldorfer-hypothekenbank-13486643.html.
- ↑ Breitkopf, Thorsten (17 December 2013). "Die Rückkehr der Düsseldorfer Hypo-Bank". https://rp-online.de/nrw/staedte/duesseldorf/die-rueckkehr-der-duesseldorfer-hypo-bank_aid-14447315.
- ↑ "Lone Star wird Immobilienbank DüsselHyp los". 25 August 2014. https://www.wiwo.de/unternehmen/banken/nach-sanierung-lone-star-wird-immobilienbank-duesselhyp-los/10606090.html.
- ↑ ""Wie bei Lehman": Mitten in Deutschland droht eine Bankenpleite". 12 March 2015. https://www.focus.de/finanzen/news/einlagensicherung-muss-einspringen-wie-bei-lehman-mitten-in-deutschland-droht-eine-bankenpleite_id_4538690.html.
- ↑ "Bankenverband zur Düsseldorfer Hypothekenbank". 15 March 2015. https://bankenverband.de/newsroom/presse-infos/bankenverband-zur-duesseldorfer-hypothekenbank/.
- ↑ "2017 Geschäftsbericht". https://www.duesshyp.de/fileadmin/user_upload/publikationen/2017_Geschaeftsbericht_DuessHypoBank.pdf.
- ↑ "Pfandbriefe als nachhaltiges Refinanzierungsinstrument". https://www.pfandbrief.de/cms/_internet.nsf/tindex/de_925.htm.
- ↑ "2015 Geschäftsbericht". 2016. https://www.duesshyp.de/fileadmin/user_upload/publikationen/2015_Geschaeftsbericht_Duesseldorfer_Hypothekenbank.pdf.
- ↑ "2014 Geschäftsbericht". 2015. https://www.duesshyp.de/fileadmin/user_upload/publikationen/2014_Geschaeftsbericht_Duesseldorfer_Hypothekenbank.pdf.
External links
[ ⚑ ] 51°13′16″N 6°46′55″E / 51.221179°N 6.781893°E
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