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Press release, Hanover, 20 March 2002 Deutsche Hypo raises dividend The Supervisory Board of Deutsche Hypothekenbank (Actien-Gesellschaft), Hanover/Berlin has approved the Bank's 2001 Annual Accounts at today's balance sheet meeting and resolved to propose to the Annual General Meeting on 16 May 2002 that the dividend be raised by 1 euro to 10 euros per share and the com-pany's reserves increased by EUR 20 million. Deutsche Hypo, which is a member of BHF-BANK Group, enjoyed a satisfactory financial year despite the difficult economic environment, although it was unable to match the very good result achieved in 2000. Deutsche Hypo achieves major increase in new business The Bank was able to achieve a significant 28% increase in the volume of new mortgage business, concluding transactions worth EUR 1.8 billion. This success can be attributed to momentum from foreign markets, which now account for EUR 1.1 billion (+ 55%) and thus 61% of all new mortgage business. Despite what was a difficult real estate market in some segments, domestic business, at EUR 708 million, was maintained at the previous year's level. In terms of its capital market business, the Bank issued loans and securities worth EUR 2.8 billion (+ 45%), thereby duly profiting from the upbeat mood on the capital market at the end of 2001. Satisfactory income situation The gratifying development in mortgage business made a major contribution to the Bank's overall result. Net interest and commission income at Deutsche Hypo amounted to EUR 97.9 million, on a par with the previous year's level. Administra-tive expenses rose 8.8% to EUR 28.8 million due to higher personnel costs associated with the expansion of mortgage business and various projects. There was a slight change in what remains a gratifying cost/income ratio, from 26.8% to 29.4%. Risk provisioning amounted to EUR 19.8 million (previous year: EUR 17.5 million), thereby taking account of all currently discernible risks. With an operating result before tax of EUR 46.1 million, 11.5% down on the previous year, the Bank achieved a return on equity of 17.4% (previous year: 22.7%). For further information please contact: Markus Nitsche Head of Marketing and Sales Georgsplatz 8 30159 Hannover Telefon: +49 511 3045-580 Telefax: +49 511 3045-589 E-Mail: Markus.Nitsche@Deutsche-Hypo.de |
