Show Submenu
|
Press release, Hanover, 18 October 2002 Deutsche Hypo, Hanover, to increase its share capital In line with the proposal by the Board of Managing Directors, the Supervisory Board of Deutsche Hypo has decided to use the company's authorised capital to increase its share capital by EUR 20.16 million at a ratio of 3 to 1. This measure is intended to strengthen Deutsche Hypo's core capital base so that the company may continue its expansion in the years ahead. The company's interim report as at 30 June 2002 already pointed towards a positive trend in new mortgage business in the second half of this year, despite the 16% decline at mid-year. In the first nine months of the year, new mortgage business had recorded a rise of 27% to EUR 1.7 billion. The bank, in which ING BHF-BANK Aktiengesellschaft holds an 83% shareholding, will publish further details of this capital increase in good time upon its implementation which is planned for late 2002/early 2003. 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 |
