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Press Releases

MünchenerHyp Receives mtn-i Award for Deal of the Year

14.02.2017 - Münchener Hypothekenbank eG has received the Deal of the Year Award from mtn-i, a well known international data platform for fixed-income securities.

The jury’s decision was based on a Swiss Franc denominated Mortgage Pfandbrief that was issued by MünchenerHyp in the summer of 2016.

MünchenerHyp was the first German bank to issue a Swiss Franc denominated Pfandbrief since 2010. The 2-year Pfandbrief had a volume of 200 million Swiss Franc and a coupon of 0.01 percent. Commerzbank served as lead manager for the issue.

“MünchenerHyp is increasingly active as a property financer in international markets, which is why bonds denominated in foreign currencies are becoming more and more important for us. The award marks the conclusion of a successful year of new issues and a fine confirmation of our refinancing strategy”, said Dr. Louis Hagen, Chairman of the Münchener Hypothekenbank Board of Management.  

About 40 percent of the total volume of covered refinancing securities issued by MünchenerHyp in 2016 were denominated in foreign currencies. Switzerland is an important market for MünchenerHyp due to the Bank’s many years of successful collaboration with the Swiss PostFinance.

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MünchenerHyp increases its results once again

18.10.2016 - Münchener Hypothekenbank eG announced today that its results have risen further.
As of 30 September 2016 the Bank recorded net interest income of € 168.5 million (30 September 2015: € 161.7 million), or 4.2 percent over the same year-ago figure. “We are on track to improve our earnings and see ourselves well positioned to face the growing challenges posed by the market and competition“, said Dr. Louis Hagen, Chief Executive Officer of MünchenerHyp.

MünchenerHyp was able to further expand its new residential property financing business with partner banks within the Cooperative Financial Network as well as with independent providers of financial services. New lending commitments rose by 5 percent to € 2.2 billion (30 September 2015: € 2.1 billion). Successful joint sales activities with the Swiss PostFinance made it possible to significantly reduce the weakness noted in the first half of the year. New lending commitments made to finance commercial property were about € 900 million in comparison to the year-ago figure of about € 1.3 billion). The Bank recorded lower new business results as it remained true to its proven financing principles in a market environment where lenders were willing to accept greater risks and lower margins. MünchenerHyp posted total new business results of € 3.4 billion on 30 September 2016 (30 September 2015: € 3.7 billion).

The risk situation in the Bank’s lending business remained at a stable level as results from ordinary business operations increased by € 9 million to € 45.5 million. After deduction of taxes the Bank’s net income for the year improved by € 5.3 million on a pro rata temporis basis to € 27.1 million.

Total assets rose over the course of the year by about € 1 billion to € 39.1 billion as MünchenerHyp expanded its portfolio of mortgage loans by € 1.5 billion to € 27.2 billion. In line with its business strategy the Bank further reduced its portfolio in the capital markets business.

MünchenerHyp was able to continue obtaining refinancing at good conditions. The volume of refinancing resources noted on 30 September 2016 amounted to € 33.1 billion (31 December 2015: € 32.1 billion).

MünchenerHyp’s level of equity capital remains very solid. As on 30 September 2016 the Bank’s Tier 1 capital ratio was 19.0 percent and its common equity Tier 1 capital ratio was also 19.0 percent, while its total capital ratio stood at 20.7 percent.

MünchenerHyp expects that it will be able to continue its favourable development into the final quarter of the year and that its net income for the year will be moderately higher than the same year-ago figure.

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MünchenerHyp: Successful development further consolidated in first half of 2016

25.08.2016 - Münchener Hypothekenbank eG further strengthened its earnings power in the first half of 2016. Following the record results posted in 2015 the figure for net interest income and net commission income rose by 3 percent during the first six months of the year to € 75 million (2015: € 72.9 million).
“The first half of 2016 confirmed the sustainability of our business strategy in a market environment that is becoming increasingly competitive”, said Dr. Louis Hagen, the Chairman of Münchener Hypothekenbank’s Board of Management.

This is reflected by the € 2.3 billion in new lending commitments made by MünchenerHyp in the first half, which again reached the high level recorded in the previous year (2015: € 2.4 billion). The Bank also posted gains in its business with partner banks within the Cooperative Financial Network and with independent providers of financial services. The volume of private property loans brokered via this channels rose by 5 percent to over € 1.5 billion. Property financing deals brokered by the Swiss PostFinance declined as demand for property and property loans weakened in Switzerland. MünchenerHyp’s lending commitments made in its commercial property financing business – including financing for housing companies – amounted to over € 500 million and remained at the previous year’s level. Dr. Louis Hagen further noted: “We are satisfied with the development of our new business results. It shows that it is possible to be successful with conservative financing principles in today’s market situation that is characterised by a greater willingness to take on risk.”

MünchenerHyp was again able to obtain refinancing at good and stable conditions from the capital markets. By the end of July the Bank had issued two large-volume benchmark Mortgage Pfandbriefe, each of which met with heavy demand. The first issue was a 10-year Mortgage Pfandbrief with a volume of € 500 million and was placed in April. This issue was notable as it was priced at the highest risk discount in this maturity segment up to its date of issue. A few months later the Bank was able to tap this Mortgage Pfandbrief by an additional € 250 million to € 750 million at even better conditions. This successful issue was followed up in July with a 3-year Mortgage Pfandbrief issue with a volume of USD 600 million which generated a very favourable international response.

The risk situation in our property finance business remained stable as provisions made for risk were at a low level. Results from normal business operations after making provisions for risk rose by € 3.6 million to € 27.1 million. After deductions for tax expenses, MünchenerHyp recorded a pro rata temporis net income for the period of € 14.6 million (2015: € 13.7 million).

Total assets recorded on 30 June 2016 amounted to € 38.7 billion following € 38.1 billion posted at the end of 2015. During the same time period the value of the Bank’s portfolio of mortgage loans rose by € 0.9 billion to € 26.5 billion. In line with MünchenerHyp’s business strategy, the portfolio of securities stemming from capital market transactions declined by about € 0.7 billion since the start of 2016 to € 7.6 billion.

On 30 June 2016 MünchenerHyp’s common equity Tier 1 capital ratio was 17.6 percent (31 December 2015: 17.3 percent). The Tier 1 capital ratio was 17.6 percent (31 December 2015: 19.5 percent) and the total capital ratio was 19.5 percent (31 December 2015: 24.2 percent). The decline in the Tier 1 capital ratio and the total capital ratio was due to the repayment of a silent participation and the elimination of the members’ liability on shares in the MünchenerHyp. Per the terms of regulatory requirements both of these equity capital items could only be counted as own funds for a limited transition period.

MünchenerHyp foresees that it will continue its favourable development in the second half of the year. “We want to further expand our new business and are confident that we will achieve our goals for 2016”, said Dr. Louis Hagen.

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MünchenerHyp has been awarded with the seal of quality for sustainability by DZ Bank

11.08.2016 - Münchener Hypothekenbank eG has been awarded with the seal of quality for sustainability by DZ Bank AG.

This seal is based on the sustainability rating given by the cooperative central institution. 

Within the sustainability rating DZ Bank recognises in particular the sustainable products of MüenchenerHyp, like the MünchenerHyp sustainability loan and the sustainable Pfandbrief (ESG Pfandbrief), where the Bank has been a pioneer in the international capital markets. The high degree of transparency, the quality of the sustainability reporting and good economical sustainability performance of MünchenerHyp are also receiving a positive evaluation.

“We really appreciate the seal of quality for sustainability by DZ Bank, as it includes additionally an economical dimension of sustainability besides ecological, social and governance criteria”, says Bernhard Heinlein, Member of the Board of Management of Münchener Hypothekenbank.

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MünchenerHyp very successfully issues US dollar denominated Mortgage Pfandbrief

14.07.2016 - Münchener Hypothekenbank eG has again issued a US dollar denominated benchmark Mortgage Pfandbrief.
The 3-year Pfandbrief has a volume of USD 600 million and a coupon of 1.375 percent. Pricing of the bond has been fixed at a Euro equivalent of 6 month Euribor of minus 10.5 basis points – a price level that was far beyond prices attained thus far by this year’s euro-denominated Pfandbrief issues.

Demand for the Pfandbrief was very high and primarily driven by international investors. The order was closed within a short time after orders for more than USD 900 million were received. A total of 33 orders from 14 countries on three continents were received. Most of the orders, 38 percent, came from Germany followed by investors located in Africa and the Middle East with almost 18 percent, and Austria/Switzerland accounting for 11 percent of the orders. The largest group of investors, accounting for 45 percent of the volume sold, consisted of supranationals, agencies and sovereign wealth funds.

“This issue enabled us to win new investors who do not usually subscribe to new euro-denominated Pfandbrief issues. This further strengthens our investor base and at the same time reflects the high reputation our Pfandbriefe have earned internationally “, said Dr. Louis Hagen, Chairman of the Münchener Hypothekenbank’s Board of Management.

The transaction was accompanied by Barclays, Deutsche Bank, DZ Bank, Goldman Sachs and Nomura. The rating agency Moody’s has given its highest rating of Aaa to MünchenerHyp’s Mortgage Pfandbriefe.


Our providing of information on this document does not, and is not intended to nor shall it be construed to, constitute an offer to sell or a solicitation of any offer to buy any securities by or on behalf of Münchener Hypothekenbank eG or any of its affiliates in any jurisdiction. Securities discussed herein may not be eligible for sale in certain jurisdiction or to certain persons and may not be suitable for all types of investors, and the same may apply with regard to the distribution of any information made available on this document that pertains to these securities. In particular, this document are not an offer of securities in the United States of America, and securities of Münchener Hypothekenbank eG may not be offered or sold in the United States of America absent registration under the U.S. Securities Act of 1933 or an exemption from registration. Münchener Hypothekenbank eG does not intend to register any offering of securities in the United States of America nor any public offer.

Neither Münchener Hypothekenbank eG nor any of its affiliates have taken any steps to ensure that the securities referred to in this document are suitable for any particular investor. Accordingly, nothing in this document should be regarded as investment advice being provided by Münchener Hypothekenbank eG or any of its affiliates or a solicitation or a recommendation by Münchener Hypothekenbank eG or any of its affiliates that any particular investor should subscribe, purchase, sell, hold or otherwise deal in any securities. The viewer is exclusively responsible for conducting his or her own investigation and analysis of the information in the websites and for evaluating the merits and risks involved in investing in the securities that are referred to herein. Before making any investment decision, viewers should refer to existing public information and obtain professional advice.


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