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Dr. Phil Zundel

Head of Board of Management Staff, Organisation, Human Resources

Phone: +49 89 5387 - 319

Dr. Benno-Eide Siebs

Press Officer

Phone: +49 89 5387 - 314

Press Releases

MünchenerHyp honoured twice: best covered bond issuer, and most innovative issuer award for its sustainable Mortgage Pfandbrief issue

19.02.2015 - Münchener Hypothekenbank eG has been honoured for setting new standards in the covered bond market in 2014. This was reflected by the results of an international survey conducted by the Capital Market Data Network (CMDportal) among more than 18,000 institutional investors, issuers and bond dealers who elected MünchenerHyp as the Best Covered Bond Issuer and Most Innovative Green Bond Issuer.
The Bank received the 2015 CMDportal Awards.

MünchenerHyp was honoured as the Best Covered Bond Issuer for its strong presence and continuous issuing activities in the Pfandbrief market. The Bank also received an award for issuing the world’s first sustainable Mortgage Pfandbrief (ESG Pfandbrief). The cover pool for this Pfandbrief consists solely of collateral based on sustainable ecological, social and governance criteria, which was confirmed in a second party opinion provided by oekom research, a sustainability rating agency. The sustainable Mortgage Pfandbrief met with very high investor interest. This was particularly true among a new group of investors for the Bank who are focused on sustainable capital investments.

“We are pleased to have received these awards. They are evidence of the high regard market participants have of our issuance policy and our innovative approach. They will spur us on to continue advancing, and especially to launch further sustainable Pfandbrief issues”, said Dr. Louis Hagen, Spokesman for the Münchener Hypothekenbank’s Board of Management. 

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MünchenerHyp Financing Square 41 in Frankfurt Banking District

22.01.2015 - Münchener Hypothekenbank eG announced today that it has provided € 20.7 million of financing for the purchase of Square 41, an office building in Frankfurt am Main.

The property was purchased by an open-ended property fund managed by Amundi Real Estate (RE), which was formed from the merger of the real-estate investment management operations of Crédit Agricole and Société Générale.

The office building is fully rented and was extensively modernised over the past two years. Square 41 offers more than 7,000 square meters of office space and is located in the centre of Frankfurt’s banking district directly adjacent to high-rise buildings housing major German banks.

This open-ended property fund was founded in 2011 and is mainly oriented towards retail investors. The value of the fund has developed very favourably since it was established and its investment focus is on properties in France, Germany and Great Britain. Square 41 is the second property MünchenerHyp has financed for the fund.

“We are pleased to partner this financing deal which allows us to strengthen our relationship with Amundi RE and once again enables them to acquire a very attractive property”, said Bernhard Heinlein, member of Münchener Hypothekenbank’s Board of Management.

About Amundi Real Estate:

Amundi Real Estate was formed from the merger of the real-estate investment management operations of Crédit Agricole and Société Générale. With € 7.7 billion (at 31.12.2013) under management, the entity develops, structures and manages real estate funds with operations in France, UK, Germany, Italy, and Luxembourg. More information is at

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Münchener Hypothekenbank Terminates Silent Participation with Isar Capital

20.11.2014 - Münchener Hypothekenbank eG has given legal notice that it will terminate its silent participation with Isar Capital Funding I LP effective December 31, 2014. The silent participation has a value of € 100 million and will be repaid as contractually agreed on June 30, 2015. Furthermore, a bond issued by Isar Capital Funding I LP (ISIN DE000A1APTA4) will also be repaid on the same date.

Pursuant to the terms of the Capital Requirements Regulation (CRR), the silent participation of Isar Capital Funding I LP will only be recognised as additional core capital for a transitional period. In view of these facts, MünchenerHyp timely terminated its participation agreement with Isar Capital Funding I LP today.

MünchenerHyp increased its common equity Tier 1 capital by € 415 million this year as it had to meet the higher equity capital requirements set by the European Central bank (ECB) as of the beginning of this month. On September 30, 2014 the Bank’s total capital ratio was 19.7 percent, while its core capital ratio was 15.6 percent and its common equity Tier 1 capital ratio stood at 12.3 percent.

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MünchenerHyp meets ECB’s equity capital requirements

26.10.2014 - Münchener Hypothekenbank eG is well prepared for the European Central Bank (ECB) to take over supervision of the Bank.

This is based on the results of the Comprehensive Assessment that were announced today by the ECB. MünchenerHyp achieved excellent grades within the scope of the Asset Quality Review. The subsequent stress test that was carried out based on the annual financial statements for 2013 revealed that the Bank did not meet the required minimum common equity Tier 1 capital ratio. However, the Bank vastly exceeded the minimum level following the capital increase that took place during 2014. “We are pleased that the ECB audit has confirmed the solid standing of MünchenerHyp and its business model”, said Dr. Louis Hagen, Spokesman for the Münchener Hypothekenbank’s Board of Management.

MünchenerHyp passed the Asset Quality Review with flying colours. No corrections were needed. In particular, the AQR certified that the Bank had made more than adequate provisions for risk. These results reflect the Bank’s very cautious approach and that it makes sufficient provisions for risks on a timely basis. “We feel that these results underline the value of our very low risk business policy. We will continue our successful growth strategy based on this platform”, noted Dr. Louis Hagen.

MünchenerHyp already knew that it needed to raise its common equity Tier 1 capital ahead of the stress test based on the annual financial statements for 2013. This resulted in the Bank initiating a successful effort to attract additional paid up capital from within the Cooperative Financial Network and among private members of the cooperative. These efforts provided the Bank an additional 415 million euros of common equity Tier 1 capital and also raised its common equity Tier 1 capital ratio to 12.3 percent as of September 30th 2014. This level of capital enabled the Bank to significantly exceed the required minimum ratios set out in the two stress test scenarios for the entire review period (see chart).

Last week MünchenerHyp announced its business results for the period ending September 30, 2014, which showed that the 2014 business year is very successful. The figures revealed that the Bank increased its new property finance business by 22 percent to 3.2 billion euros while net income   for the period amounted to 16.4 million euros, or 75 percent more than in the same year-ago period. Dr. Louis Hagen stated: “Our level of capitalisation and our good business performance allow us to look ahead to the future with great confidence.”

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MünchenerHyp’s new business and earnings rise significantly

22.10.2014 - Münchener Hypothekenbank eG remains on its growth path as it significantly increased its new business results again in the third quarter.
Up until the end of September 2014 the Bank had made new property financing commitments of 3.2 billion euros, or 22 percent more than in the same year-ago period.

The lion’s share of new business was generated by loans for houses and condominiums. In this segment the Bank made lending commitments of about 2.7 billion, which represented a gain of 28 percent over the same year-ago period. MünchenerHyp’s commercial property financing business recorded stable development with results of 535 million euros reaching the previous year’s level. “We are very pleased with the development of our business, especially in the residential property finance segment where we were able to expand our market position further”, said Dr. Louis Hagen, Spokesman for the Münchener Hypothekenbank’s Board of Management. 

Earnings also developed favourably. Net interest income rose by 13 percent to 120.2 million euros. These results made it possible to offset the higher commission expenses incurred due to the strong gains in new business. This meant that net interest income and net commission income improved by 13 percent to 77.5 million euros.

The Bank once again recorded very strong refinancing results. In September MünchenerHyp generated notable commotion in the capital markets when it issued the world’s first sustainable Mortgage Pfandbrief (ESG Pfandbrief). The 5-year issue with a volume of 300 million euros was priced ten basis points below the mid-swap rate. The Pfandbrief is unique because its coverage is based on ecological, social and socio-political sustainability criteria.

The Bank’s portfolio of mortgage loans expanded due to successful new business results. Since the start of the year MünchenerHyp increased the volume of its loan portfolio by 1.3 billion euros to 22.6 billion euros. In addition, this figure also contributed to the increase in the Bank’s total assets, which rose from 34.9 billion euros to 36.2 billion euros during the first nine months of the year. The Bank’s portfolio of securities generated by its capital markets business declined further as planned.

MünchenerHyp remains very satisfied with risk situation in its property financing business. Results from operations after making provisions for risk increased by 10.3 million euros to 25.0 million euros. Net income amounted to 16.4 million euros, or 7 million euros more than recorded in the same year-ago period.

Starting in November 2014 MünchenerHyp will be placed under the direct supervision of the European Central Bank (ECB). In anticipation of the ECB’s capital requirements the Bank significantly strengthened its level of capital during the first half of the year. This was achieved through a major effort to attract additional paid up capital. During the third quarter the Bank was still recording open subscriptions to purchase shares that were generated by these efforts. As a result MünchenerHyp’s common equity Tier 1 capital ratio rose by over one percentage point from the end of the first half of 2014 to its current level of 12.3 percent. The ECB requires banks that it supervises to have a minimum common equity Tier 1 capital ratio of 8 percent. On September 30, 2014 MünchenerHyp had a core capital ratio of 15.6 percent and a total capital ratio of 19.7 percent.

As the Bank enters the final quarter it is confident that it will achieve its goals and will exceed the previous year’s level of new business. “The effectiveness of our growth strategy is tirelessly gaining strength and will continue to have a favourable impact on our earnings power“, noted Dr. Louis Hagen.

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