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]
 | |
| Company 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 bank specializes in commercial real estate financing. It only engages in direct business to a limited extent; the focus is on syndicate business.
History
editThe 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, USA (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 British 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
edit| 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
edit- ^ a b c "2016 Gschäftsbericht" (PDF). Düsseldorfer Hypothekenbank. 2017. Retrieved 6 March 2019.
- ^ Osman, Yasmin (12 August 2010). "Erblasten reißen Düsselhyp tief in die Verlustzone". Handelsblatt. Retrieved 6 March 2019.
- ^ Hölscher, Reinhold. "Hypothekenbanken Definition". Springer Fachmedien. Retrieved 6 March 2019.
- ^ "Ausgewählte Finanzdaten" (PDF). Düsseldorfer Hypothekenbank. 2012. Archived from the original (PDF) on 2 December 2013. Retrieved 6 March 2019.
- ^ Stricker, Arnd (7 December 2010). "Verkauf der Düsseldorfer Hypothekenbank an die Lone Star–Gruppe vollzogen" (PDF). Düsseldorfer Hypothekenbank. Retrieved 6 March 2019.
- ^ "Rekordklage beim Landgericht". RP ONLINE. 19 October 2009. Retrieved 6 March 2019.
- ^ Mussler, Hanno (16 March 2015). "Bankenverband übernimmt Bank in Not". Frankfurter Allgemeine. Retrieved 6 March 2019.
- ^ Breitkopf, Thorsten (17 December 2013). "Die Rückkehr der Düsseldorfer Hypo-Bank". RP ONLINE. Retrieved 6 March 2019.
- ^ "Lone Star wird Immobilienbank DüsselHyp los". WortschaftsWoche. 25 August 2014. Retrieved 6 March 2019.
- ^ ""Wie bei Lehman": Mitten in Deutschland droht eine Bankenpleite". FOCUS Online. 12 March 2015. Retrieved 6 March 2019.
- ^ "Bankenverband zur Düsseldorfer Hypothekenbank". bankenverband. 15 March 2015. Retrieved 6 March 2019.
- ^ "2017 Geschäftsbericht" (PDF). Düsseldorfer Hypothekenbank. Archived from the original (PDF) on 6 April 2018. Retrieved 6 March 2019.
- ^ "Pfandbriefe als nachhaltiges Refinanzierungsinstrument". Verband deutscher Pfandbriefbanken. Retrieved 6 March 2019.
- ^ "2015 Geschäftsbericht" (PDF). Düsseldorfer Hypothekenbank. 2016. Retrieved 6 March 2019.
- ^ "2014 Geschäftsbericht" (PDF). Düsseldorfer Hypothekenbank. 2015. Retrieved 6 March 2019.
