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Press release, Hanover, 12 May 2005 2004 financial year positive overall: Deutsche Hypo dividend remains at same high level At today's General Meeting of the Deutsche Hypothekenbank (Actien-Gesellschaft), Hanover/Berlin, which forms part of the ING-Group, the proposal for the appropriation of profits submitted by the Board of Managing Directors and Supervisory Board was approved. The result for the 2004 financial year was used to allocate an amount of € 15.7 million to the reserves, with € 5.7 million thereof being approved by today's General Meeting. The remaining € 14.8 million was used by Deutsche Hypo in order to pay a dividend of € 11 per unit share, the same level as last year. The increase in the Bank's share price, which had risen by more than 18% during the course of 2004, was pleasing and enabled shareholders to achieve considerable portfolio growth. Election of the Supervisory Board Today's Annual General Meeting also saw the election of members to the Supervisory Board. From today, the Supervisory Board is made up of the following members:
Mr Wolfgang Hollender was elected to the position of Chairman of the Supervisory Board, whilst Mr. Sytse Adriaan Andringa became Deputy Chairman. A positive start to the 2005 financial year During the first four months of the year, new mortgage business made positive progress. Compared to the same period of the previous year, new mortgage commitments were up 17% at € 291.8 million. When these are broken down according to region, approximately 80% of lending related to real estate properties located outside Germany. Due to this development we are confident that we once again will achieve the acquisition volume reached in 2004. New capital market business, at € 2.2 billion, lies only just below the level achieved last year, a figure of € 2.6 billion of new capital market business having been posted on 30 April 2004. Income development is currently in accordance with our projections. Compared to the pro rata figures from last year, the net interest and commissioning income of € 35.1 million, administrative expenses of € 10.9 million and operating result of € 16.6 million as at the end of April all were higher than the results from last year. We are therefore optimistic that as the year progresses, we will be in a position to report further satisfactory results. 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 |
