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Press release, Hanover, 12 May 2004 Deutsche Hypo increases dividend after a successful 2003 At today's General Meeting in Hanover of Deutsche Hypothekenbank (Actien-Gesellschaft), Hanover/Berlin, which forms part of ING BHF-BANK Group, the proposal for the appropriation of profit submitted by the Board of Managing Directors and Supervisory Board was approved. As in the previous year, the result for 2003 was used to allocate an amount of € 18.3 million to the reserves, with € 8.3 million thereof being approved by today's General Meeting. The remaining € 14.8 million will be used by Deutsche Hypo to pay a higher dividend, increased by € 1, of € 11 per unit share. The shareholders of Deutsche Hypo were also able to note the gratifying increase in the share price, which had gained more than 10% during the course of the 2003 financial year. Confident outlook for the 2004 financial year With new commitments in mortgage lending amounting to € 249 million as at 30 April 2004, the Bank is more or less on a par with the previous year's level of € 267 million. Capital market business is continuing its gratifying development with new commitments amounting to approx. € 2.6 billion, up 23% on the same time last year. Further contributory factors to the Bank's fundamental optimism after the first four months of this financial year include a 23% increase in net interest and commission income to € 37.9 million, and a fall in administrative expenses in the region of 10% to € 10.3 million. The operating result before tax as at the end of April stands at € 20.4 million and is thus 25% higher than for the same period of 2003. Due to positive one-off effects, this figure cannot, however, be extrapolated for the year as a whole. Despite what remain difficult basic parameters in the economy as a whole, Deutsche Hypo is confident that, on the basis of its sound positioning, it can again achieve a satisfactory result overall for the current financial year. 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 |
