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Dr. Phil Zundel

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Phone: +49 89 5387 - 319

Dr. Benno-Eide Siebs

Press Officer

Phone: +49 89 5387 - 314

Press Releases

MünchenerHyp continues its dynamic growth

26.08.2015 - Münchener Hypothekenbank eG continued the strong pace of growth it recorded last year during the first half of 2015. New business in the property finance area increased by 19 percent to € 2.4 billion (previous year: € 2.1 billion).
The Bank’s earnings also benefited from this rise as its net interest income and net commission income rose by 36 percent to € 72.9 million (previous year: € 53.5 million). “We are very pleased with the way our business developed. Our sustainable growth strategy is working as planned,” said Dr. Louis Hagen, Spokesman for the Münchener Hypothekenbank’s Board of Management, during the announcement of the Bank’s half year results.

MünchenerHyp intensified its residential property financing activities with banks within the Cooperative Financial Network. New business generated within the Cooperative Financial Network rose by 21 percent to € 1.3 billion. The Bank also recorded a notable increase in the area of commercial property financing, including loans made to housing companies. The volume of new lending commitments made during the first half of the year rose by 24 percent to about € 550 million. 

MünchenerHyp’s strong placement power remained intact in the capital market as it issued three large volume benchmark Mortgage Pfandbriefe by the end of July. Each of the three issues had a volume of € 750 million and all three were quickly oversubscribed within a short period of time due to strong demand. Furthermore, the results of this year’s “Best Borrowers Survey” conducted by Euromoney, a financial trade publication, showed that the Bank successfully defended its first place ranking in the category “Covered Bonds and Pfandbriefe”.

The risk situation in the property financing business remained stable as provisions made for risk were at a low level. Results from operations after making provisions for risk rose by € 6.8 million to € 23.5 million. After deduction of tax expenses the Bank recorded a pro rata temporis net income figure for the year of € 13.7 million (previous year € 11.1 million).

Total assets recorded on June 30, 2015 amounted to € 37.6 billion following € 36.3 billion posted at the close of 2014. The value of the Bank’s portfolio of mortgages increased by € 1.4 billion to € 25.0 billion. In line with MünchenerHyp’s business strategy, the portfolio of securities held due to the Bank’s capital markets business declined by € 0.4 billion since the start of the 2015 to € 9.0 billion.

On June 30, 2015 MünchenerHyp’s common equity Tier 1 capital ratio was 12.3 percent (12.5 percent as of December 31, 2014), while the Bank’s Tier 1 capital ratio stood at 14.0 percent (14.2 percent as of December 31, 2014), and its total capital ratio was 17.6 percent (18.3 percent as of December 31, 2014).

MünchenerHyp is confident that it will be able to further increase its new business performance in the second half of 2015. Dr. Louis Hagen stated: “We are striving to achieve a higher volume of new business in both our residential and commercial property financing areas of business than we did in the previous year. Our confidence is supported by the overall favourable conditions that exist in our core markets.” Against this background, the Bank anticipates that it will be able to increase its net income for the year.

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MünchenerHyp successfully places € 750 million Mortgage Pfandbrief

29.07.2015 - Münchener Hypothekenbank eG announced that it successfully issued a long 5-year Mortgage Pfandbrief with a volume of € 750 million.

Heavy demand was noted for the benchmark issue that carries a coupon of 0.25 percent. The order book was closed soon after opening when orders for about € 1 billion had been received. The Pfandbrief was priced at 17 basis points below the mid-swap rate, which is the highest discount for risk recorded thus far this year for Pfandbriefe and Covered Bonds.

“Within just a few weeks we were once again able to successfully issue another major volume Mortgage Pfandbrief. This reflects the Pfandbrief‘s strength as a refinancing instrument and is also a nice confirmation of our placement power“, said Dr. Louis Hagen, Spokesman for the Münchener Hypothekenbank’s Board of Management.

A total of 49 orders from 14 countries were received for the issue with German investors accounting for about 70 percent of the volume sold, followed by investors from the Nordic countries. In terms of investor category, banks and central banks accounted for 87 percent of the volume issued. 

The transaction was accompanied by Commerzbank, DZ BANK, Nord/LB and WGZ Bank.

The rating agency Moody’s has given its highest rating of Aaa to MünchenerHyp’s Mortgage Pfandbriefe.

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MünchenerHyp voted best Pfandbrief bank anew

19.06.2015 - Münchener Hypothekenbank eG has defended its first place ranking in the “Covered Bonds & Pfandbriefe“ category of the “Best Borrowers Survey 2015“ conducted by Euromoney, a British trade publication.

The results showed a large gap between the top ranked MünchenerHyp and the number two institution. The survey was conducted among major banking customers.

“We are very pleased that we successfully defended our title, which reflects the high reputation MünchenerHyp has earned among investors and the capital market as an issuer of Pfandbriefe“, said Dr. Louis Hagen, Spokesman of MünchenerHyp’s Board of Management. 

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MünchenerHyp successfully issues new benchmark Mortgage Pfandbrief

02.06.2015 - Münchener Hypothekenbank eG announced today that it placed its second benchmark issue of the year.

The 8-year Mortgage Pfandbrief has a volume of € 750 million and carries a coupon of 0.5 percent. The order book recorded € 1 billion in orders for the new issue. The Bank attained a price of 17 basis points below the mid-swap rate for the issue.

“Good investor demand reflects the unchanged refinancing strength of MünchenerHyp even in an interest rate environment that remains challenging”, said Dr. Louis Hagen, Spokesman for the Münchener Hypothekenbank’s Board of Management.

A total of 46 orders from 12 countries were received. German investors subscribed to about three-quarters of the volume issued. In terms of investor category, central banks accounted for 43 percent of the volume issued with banks subscribing to about 35 percent while 22 percent was purchased by funds and insurance companies.

“The excellent and partner-like collaboration with the consortium banks also contributed towards the success of the issue“, said Rafael Scholz, Head of Treasury at MünchenerHyp. The transaction was accompanied by DZ Bank, LBBW, UBS and UniCredit.

The rating agency Moody’s has given its highest rating of Aaa to MünchenerHyp’s Mortgage Pfandbriefe.

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MünchenerHyp crowned Most Innovative Issuer of Covered Bonds

20.05.2015 - Münchener Hypothekenbank eG has received another accolade for the world’s first sustainable Mortgage Pfandbrief (ESG Pfandbrief), coming top of the Innovation category at the Covered Bond Report Awards for Excellence 2015 in Frankfurt.

In granting the award, the panel acknowledged that MünchenerHyp and its ESG Pfandbrief have played a leading role in developing a market for sustainable covered bonds.

“We are very pleased with this important recognition of our commitment to sustainable Pfandbriefe. The market for sustainable securities is set to grow considerably again this year, with the Pfandbrief ideally placed to play a key role. I think this clearly demonstrates the substantial demand for our ESG Pfandbrief”, said Dr. Louis Hagen, Spokesman of MünchenerHyp’s Board of Management.

The Covered Bond Report Awards for Excellence are presented every year by the prestigious British specialist journal of the same name.

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