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Press release, Hanover, 27 April 2007 Deutsche Hypo continues pleasing growth in new business Following the first three months of the current business year, Deutsche Hypo has been able to sustain the positive developments from the previous financial year and has increased new business considerably by 15.7% overall to a good € 2.8 billion. In detail, Deutsche Hypo's business performance after the first quarter of 2007 is as follows: • In terms of mortgage loan business, the bank managed to increase commitments significantly compared to the same quarter of the previous year with a rise of 80%. In total, loans amounting to € 967 million were pledged in this division. The focus of new commitments lay in foreign business, which accounts for a steadily growing proportion of overall business due to continuous growth in recent years. The mortgage portfolio rose by € 480 million to € 8.7 billion. • New capital market business stood at € 1.84 billion, 2.6% down on the same quarter the previous year. Foreign business accounted for 38% of new business overall. At € 2.37 billion, issue volume was down on the previous year's figure of € 2.87 billion. Income development still positive The Bank's income position reflects the favourable business performance and shows further improved results compared with the previous year's figures. • Deutsche Hypo’s net interest and commission income registered a significant increase of 16 % to € 27.8 million. • The increase in administrative expenses was a modest 1%, mainly attributable to a slight increase in personnel costs. • The cost/income ratio, having stood at 33.0% at the end of 2006, fell to 31.4% in the period under review. • Risk provisioning fell by 15% to € 5.7 million, and thus lay within the expected range. • The result from normal business activity rose by 9 % to € 13.7 million. Outlook Without extrapolating the growth in new business achieved in the first quarter to the rest of the year, the Bank is confident in meeting its revenue targets for 2007 as a whole. 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 |
