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Press release, Hanover, 21 May 2008 General Meeting of Deutsche Hypo in Berlin At the General Meeting of the Deutsche Hypothekenbank (Actien-Gesellschaft), Hanover/Berlin, which took place today in Berlin, the proposal for the appropriation of profits submitted by the Board of Managing Directors and Supervisory Board was approved. From the result for the financial year 2007, €21.9 million was allocated to the reserves, €9.9 million of which was accounted for by the decision at today’s General Meeting. The remaining €14.8 million was used by Deutsche Hypo in order to pay a dividend of €1.10 per unit share, the same level as last year. Election of the Supervisory Board In addition, the following members were newly elected to the Supervisory Board of Deutsche Hypo at today’s General Meeting: Dr. Hannes Rehm, Chairman of the Board of NORD/LB Dr. Gunter Dunkel, Vice-Chairman of the Board of NORD/LB Eckhard Forst, Member of the Board of NORD/LB Dr. Jürgen Allerkamp, Member of the Board of NORD/LB Dr. Johannes-Jörg Riegler, Member of the Board of NORD/LB Eckhard Forst was additionally elected as the new Chairman of the Supervisory Board of Deutsche Hypo and Dr. Gunter Dunkel was appointed as Vice Chairman at the meeting of the Supervisory Board that followed the General Meeting. Friedrich Carl Janssen, General Partner of Sal. Oppenheim jr. & Cie. KGaA remains a member of the Supervisory Board, as do staff representatives Reinhard Drexler, Michael Gehrig and Frank Wolff. Expected progression of new business in the 2008 financial year to date The particular determining factors of a difficult market continued to apply in terms of overall business development up to 30 April 2008, but mortgage loan business in particular was in a position to develop according to plan and in this regard, the volume of new business amounted to €654 million. This result is 38% lower than the exceptionally good result of the previous year, which was marked by certain special effects, but it is still more than 15 percent higher than the average of €566 million that was achieved over the last five years. Capital market business continues to be affected by the difficult refinancing conditions and our investment policy, which remains conservative. This resulted, as expected, in a fall in the volume of new business, which, at just under €700 million, was lower than the amount of €2.2 billion that was recorded in the previous year. The Bank’s net interest and commission income continues to develop positively, with a substantial year-on-year rise of 13 percent to over €41 million. The future earnings performance for the 2008 financial year will of course continue to depend upon developments on the financial markets. The refinancing conditions remain difficult for the banking sector as a whole. The Board of Managing Directors of Deutsche Hypo therefore maintains the assessment it made in the interim report as at 31 March 2008 that it is not possible to make any reliable predictions on business and earnings progression for the remainder of the 2008 financial year. Nevertheless, our aim remains to build on the result of the previous 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 |
