Press Releases 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.
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.
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.
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.
oekom research’s latest sustainability rating for Münchener Hypothekenbank eG has positioned the Bank as one of the agency’s top three rated banks in the category of “Financials/Mortgage & Public Sector Finance”.
This resulted from the agency raising MünchenerHyp’s rating from C to C+. oekom research’s individual rating for the Bank’s ecological commitment is B-, while its rating for the Bank’s social commitment is C+. At the same time the agency confirmed the Bank’s Prime Status.
Dr. Louis Hagen, Chairman of the Münchener Hypothekenbank eG Board of Management was elected as President of the Association of German Pfandbrief Banks (vdp) during today’s members’ meeting of the Association.
Hagen has been a member of the vdp Board of Management since 2010 and previously served as the Chief Executive of the Association from 2001 until 2009. He became a member of Münchener Hypothekenbank’s Board of Management in 2009 and was subsequently named its Chairman in March 2016.
Münchener Hypothekenbank eG announced today that it has signed an agreement with GFW Capital GmbH to terminate a silent participation in the Bank effective 30 June 2016. This agreement will allow GFW Capital to redeem a bond it issued to refinance the silent participation.
The bond will also be redeemed on 30 June 2016.
GFW Capital has given notice today that it will redeem the bond (ISIN: XS0237509293) on 30 June 2016.
Ad hoc Announcement: GFW Capital GmbH makes use of its right to call the Capital Notes for redemption with effect on 30 June 2016
EUR 140,000,000 Capital Notes (Capital Notes) issued by GFW Capital GmbH (Gräfelfing, Germany).
Common Code: 023750929
Today and with effect as of 30 June 2016 GFW Capital GmbH (the Issuer) calls the Capital Notes for redemption pursuant to § 8 paragraph 1 of the terms and conditions of the Capital Notes and within the notice period provided for therein.
Wolfhard Binder elected new Chairman of MünchenerHyp’s Supervisory Board – Dr. Hermann Starnecker elected as new member of the Supervisory Board
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.
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.
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.
Dr. Louis Hagen appointed Chairman of the Board of Management – Bernhard Heinlein’s Board of Management contract extended
During the same meeting the Supervisory Board also extended Bernhard Heinlein’s (59) Board of Management contract until 2018.
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.
The rating agency Moody’s has raised its rating for Münchener Hypothekenbank eG’s senior unsecured liabilities from A2 to A1. Moody’s also confirmed its Prime-1 rating for the Bank’s short-term liabilities.
Moody’s rating for MünchenerHyp’s Public Pfandbriefe and Mortgage Pfandbriefe remained unchanged at the highest Aaa rating.
Münchener Hypothekenbank eG has defended its title as an outstanding Covered Bond issuer.
A successful benchmark funding in the last year together with trustworthy investor relations activities have built the basis for the CMDportal Awards 2016 as “Best Covered Bond Issuer”.
Münchener Hypothekenbank eG (MünchenerHyp) and Hausbank München eG (Hausbank) have agreed to further intensify their good cooperative efforts of the previous years.
Both parties have identified a number of promising areas for future joint efforts, although a merger is not foreseen at this time.
MünchenerHyp and Hausbank signed a letter of intent in October 2015 wherein they agreed to closely examine future cooperation through to a possible merger.