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Press Releases

Wolfhard Binder elected new Chairman of MünchenerHyp’s Supervisory Board – Dr. Hermann Starnecker elected as new member of the Supervisory Board

26.04.2016 - The members of Münchener Hypothekenbank eG’s Supervisory Board have elected Wolfhard Binder, the Chairman of the Board of Management of the Raiffeisen-Volksbank Ebersberg eG, as their new Chairman.

Wolfhard Binder has been a member of the Bank’s Supervisory Board since 2010.

MünchenerHyp’s delegates meeting elected Dr. Hermann Starnecker as a new member of the Bank’s Supervisory Board. Dr. Starnecker is the Spokesman of the Board of Management of the   VR Bank Kaufbeuren-Ostallgäu eG. In addition, he is the District President, Swabia, of the Swabian District Association of the Genossenschaftsverband Bayern (Bavarian Cooperative Association) and a member of the Association Council of the Genossenschaftsverband Bayern. Following the end of the delegates meeting the members of the MünchenerHyp Supervisory Board elected Dr. Hermann Starnecker as their Deputy Chairman.

Konrad Irtel, the former Spokesman of the Board of Management of the Volksbank Raiffeisenbank Rosenheim-Chiemsee eG, stepped down from his position as Chairman of the MünchenerHyp Supervisory Board at the end of his term of office along with his deputy, HSH Albrecht Prince of Oettingen-Spielberg.

Konrad Irtel retired at the end of 2015. He had been a member of the Supervisory Board of MünchenerHyp since 2006 and was elected Chairman in 2010. He had served as Spokesman of the Board of Management of the Volksbank Raiffeisenbank Rosenheim-Chiemsee eG since 2000 and as the honorary President of the Genossenschaftsverband Bayern since 2008.

Wolfhard Binder, the new Chairman of the Supervisory Board, said that “Mr. Irtel’s extraordinary service on behalf of MünchenerHyp honours him. His great professional expertise and personality enabled MüncherHyp to progress and further develop during a period marked by numerous changes and tremendous regulatory challenges.

HSH Albrecht Prince of Oettingen-Spielberg had served as a member of MünchenerHyp’s Supervisory Board since 2011. He was elected as Deputy Chairman of the Supervisory Board in 2014. Binder praised HSH Albrecht Prince of Oettingen-Spielberg’s work on behalf of the Bank by saying that “MünchenerHyp greatly benefited from his vast entrepreneurial and international experience as the Bank increasingly expanded its business into European markets and structures.”

The members of Münchener Hypothekenbank’s Supervisory Board are as follows: Wolfhard Binder (Chairman), Chairman of the Board of Management of the Raiffeisen-Volksbank Ebersberg eG, Dr. Hermann Starnecker (Deputy Chairman), Spokesman of the Board of Management of the VR Bank Kaufbeuren-Ostallgäu eG, Heinz Fohrer, Member of the Board of Management of the Volksbank Esslingen eG, Jürgen Hölscher, Member of the Board of Management of the Volksbank Lingen eG, Rainer Jenniches, Chairman of the Board of Management of the VR-Bank Bonn eG, Dr. Peter Ramsauer, Member of the German Parliament (Deutscher Bundestag), Gregor Scheller, Chairman of the Board of Management of the Volksbank Forchheim eG, Kai Schubert, Member of the Board of Management of the Raiffeisenbank Südstormarn Mölln eG.

Presse Release for Download as PDF

MünchenerHyp successfully issues its first benchmark Mortgage Pfandbrief of 2016

12.04.2016 - Münchener Hypothekenbank eG’s first benchmark issue of 2016 encountered broad and lively investor demand.

The € 500 million Mortgage Pfandbrief was priced at one basis point below the mid-swap rate. The issue has a coupon of 0.5 percent and a term of 10 years.

The order book was closed after 44 orders were received for just below € 750 million. Orders were noted from investors in ten countries with Germany accounting for over three-quarters of the volume sold followed by Asian and Nordic countries. Banks bought almost 45 percent of the volume placed and represented the biggest group of investors.

“We are very pleased with the national and international demand shown for our benchmark Mortgage Pfandbrief. We were once again able to demonstrate our placement power in a market environment suffering from low interest rates“, said Dr. Louis Hagen, the Chairman of Münchener Hypothekenbank’s Board of Management.

The transaction was accompanied by DZ Bank, HSBC Trinkaus & Burkhardt, LBBW and UniCredit. The rating agency Moody’s has given its highest rating of Aaa to MünchenerHyp’s Mortgage Pfandbriefe.

 

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MünchenerHyp posts record results for its 2015 business year

07.04.2016 - Münchener Hypothekenbank eG posted record results for its 2015 business year.

Net interest income and net commission income improved by a substantial 40 percent to € 154.7 million. “Our success is primarily driven by our growth strategy which we have decisively realised in the previous years. This has enabled us to notably strengthen our earnings power despite the enormous costs we incurred to meet regulatory requirements”, said Dr. Louis Hagen, the Chairman of Münchener Hypothekenbank’s Board of Management, during the presentation of the 2015 business results.

MünchenerHyp was also able to expand the record results it posted in 2014 for its new mortgage business. In 2015 the Bank made new property loan commitments of € 4.9 billion, or 9.3 percent more than in the previous year. MünchenerHyp noted gains in both the residential and commercial property financing areas of business. The volume of new lending commitments made by the Bank in the residential property segment exceeded the previous year’s high level by 6.5 percent and rose to € 3.6 billion. MünchenerHyp’s most important partners were once again the banks within the Cooperative Financial Network as they generated a volume of new business that exceeded the previous year’s performance by 9.3 percent and totalled € 2.7 billion. The Bank increased its volume of new business in the commercial property finance segment – including financing business with commercial housing companies – by 18 percent to € 1.3 billion. The risk situation in the Bank’s lending business remained stable and allocations to provisions for risk were again moderate.

MünchenerHyp’s refinancing activities were also successful in 2015 as it placed four major volume Mortgage Pfandbriefe, all of which were benchmark format issues. All issues were priced below the mid-swap rate. Furthermore, the Bank’s work as an issuer was again honoured as the best issuer of covered bonds and Pfandbriefe.

By 31 December 2015 total assets had risen by € 1.8 billion over the same year-ago figure to      € 38.1 billion. The portfolio of mortgage loans rose by € 2.1 billion to € 25.7 billion. Domestic residential property financing was once again the fastest growing area of business as it expanded by € 1.6 billion. MünchenerHyp’s portfolio of loans arising from its lending business with the public-sector and banks contracted in line with the Bank’s business and risk strategy from € 9.4 billion to € 8.2 billion.

MünchenerHyp continues to have a very solid level of equity capital. At the end of 2015 the Bank’s common equity Tier 1 capital ratio was 17.3 percent (previous year: 12.5 percent). This figure significantly exceeds the minimum common equity Tier 1 capital ratio of 9.25 percent set by the ECB for MünchenerHyp in its Supervisory Review and Evaluation Process (SREP). The Bank’s Tier 1 capital ratio was 19.5 percent (previous year 14.2 percent) on 31 December 2015 while its total capital ratio was 24.2 percent (previous year 18.3 percent).

MünchenerHyp‘s strengthened earnings power was able to offset the increase in total administrative expenses, which rose by 9.1 percent to € 88.9 million. The reasons behind the increase were once again costs incurred to meet extensive supervisory requirements as well as the first-time expense of the European bank levy. Results from operations after deducting provisions for risk more than doubled to € 56.3 million. After transferring € 8.4 million to the Fund for General Banking Risks, and deducting tax expenses of € 25.7 million, annual net income amounted to € 22.2 million (previous year: € 16.1 million).

In view of the unbroken high demand for property, MünchenerHyp believes that competition will further intensify in the residential and commercial property financing sectors. “Based on the close customer relationships and sales strength of our brokerage partners, as well as the attractiveness of our financing solutions, we are, however, confident that we will once again be able to achieve good new business results. This will favourably influence the Bank’s performance. For this reason we anticipate that our results for 2016 will be at the previous year’s level”, said Dr. Louis Hagen.

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Dr. Louis Hagen appointed Chairman of the Board of Management – Bernhard Heinlein’s Board of Management contract extended

16.03.2016 - The Supervisory Board of Münchener Hypothekenbank eG appointed Dr. Louis Hagen (57) as the Chairman of the Board of Management of Münchener Hypothekenbank on the 14th of March.

During the same meeting the Supervisory Board also extended Bernhard Heinlein’s (59) Board of Management contract until 2018.

Dr. Louis Hagen has been a member of MünchenerHyp’s Board of Management since 2009 and has served as the Spokesman of the Board of Management since 2010. In a statement announcing the appointment, Konrad Irtel, the Chairman of the Supervisory Board of Münchener Hypothekenbank noted that “Dr. Hagen’s leadership role at MünchenerHyp has been marked by great business success and strategic vision. Above all, thanks to his efforts the Bank was able to master the enormous challenges posed by the market and regulatory requirements as well as it did.”

Bernhard Heinlein has been a member of MünchenerHyp’s Board of Management since 2008 and takes responsibility of the Bank’s Markets Department. “Mr. Heinlein’s expertise and experience have substantially strengthened MünchenerHyp’s position within the Cooperative Financial Network and the market”, noted Konrad Irtel.

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Münchener Hypothekenbank: imug raises its sustainability ratings in all categories

08.02.2016 - The sustainability rating agency imug has raised its ratings for Münchener Hypothekenbank eG in all three of the securities categories it evaluates.

The new ratings propel MünchenerHyp up into the top group of financial institutions rated by imug.

MünchenerHyp is now the best of all issuers rated by imug in the category Mortgage Pfandbriefe as the Bank’s rating improved from “Neutral” to “Positive”. The Bank’s Public Pfandbriefe are now rated “Very Positive”, and higher than the previous “Positive“ rating. The Bank is now among the ten top issuers in this category. The rating for uncovered liabilities was raised from “Neutral“ to “Positive“, and moved MünchenerHyp into the top three Pfandbriefbanks in this category.

In its rating report imug highlighted the quality of MünchenerHyp’s sustainability management and especially the positive performance made by the Bank in fulfilling sustainability criteria in a social and responsible manner.

“We are pleased by imug’s decision, which also confirms the sustainability of our refinancing instruments, and in particular the high quality of our Pfandbriefe including the aspects of sustainability“, said Dr. Louis Hagen, Spokesman for the Münchener Hypothekenbank’s Board of Management. 

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