Annual Report 2010 - Muenchener Hypothekenbank eG

Business Development (in millions of €) 2010 2009 Change % Lending Business a) Mortgage loans 3,553 1,902 87 aa) Private property financing 3,208 1,817 77 ab) Commercial property financing 345 85 309 b) Loans to public sector and banks 1,884 912 106 Total 5,437 2,814 93 Balance sheet (in millions of €) 2010 2009 Change % Total assets 35,225 35,733 -1 Mortage loans 18,455 16,591 11 Loans to public sector and banks 13,597 14,378 -5 MBS 125 191 -35 Pfandbriefe and other promissory notes 31,195 30,491 2 Liable equity capital 1,198 1,135 6 INcOmE STATEmENT (IN mILLIONS Of €) 2010 2009 Change % Net interest income less commissions 97 87 12 Administrative expenses 59 59 -1 Results from operations before deducting provisions for risks 32 25 30 Results from operations after deducting provisions for risks 17 13 28 Net income 11 11 0 EmPLOyEES (NUmBER) 2010 2009 Change % Average number of employees per year 366 369 -1 Apprentices 17 19 -11 Employees participating in parental leave, early retirement and partial retirement (non-working phase) 23 22 5 OvERvIEw