2020
ANNUAL REPORT
SOLIDARITY.
OUR STRENGTH.
Overview
BUSINESS DEVELOPMENT
IN MILLIONS OF € *
2020 2019 Change %
Lending business
a) Mortgage loans 6,395 6,478 – 1
aa) Residential property financing 4,019 3,716 8
ab) Commercial property financing 2,376 2,762 – 14
b) Loans to public sector and banks 97 45 116
Total 6,492 6,523 0
OVERVIEW OF PORTFOLIOS
IN MILLIONS OF € *
2020 2019 Change %
Total assets 48,558 42,872 13
Mortgage loans 38,411 35,498 8
Public sector and banks 3,704 4,075 – 9
Pfandbriefe and other bonds 39,576 36,398 9
Liable equity capital 1,676 1,573 7
INCOME STATEMENT
IN MILLIONS OF € *
2020 2019 Change %
Net interest income and net commission income 238 205 17
Administrative expenses 128 131 – 2
Results from ordinary business activities 95 74 29
Transfer to the Fund for General Banking Risks 20 0 –
Net income 38 36 6
EMPLOYEES
NUMBER
2020 2019 Change %
Average number of employees per year 611 573 7
Apprentices 15 15 0
Employees participating in parental leave, early retirement and partial retirement (non-working phase) 35 36 – 3
* Amounts have been rounded.
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MÃœNCHENER HYPOTHEKENBANK EGANNUAL REPORT 2020
NOTESMANAGEMENT REPORT FURTHER INFORMATION
ANNUAL STATEMENT
OF ACCOUNTS
FOREWORD
CONTENT
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Content
6 Letter from the Board of Management
8 Management Report
9 Economic report
9 General economic conditions
15 Business development
18 Financial performance, financial position and net assets
21 Ratings, sustainability and regulatory conditions
24 Registered office, executive bodies, committees and employees
25 Risk, outlook and opportunities report
25 Risk report
32 Corporate planning
33 Outlook – opportunities and risks
36 Annual Statement of Accounts
37 Balance sheet
41 Income statement
42 Statement of development in equity capital and cash flow statement
44 Notes
45 General information on accounting policies
47 Notes to the balance sheet income statement
56 Publication in accordance with Section 28 Pfandbrief Act
65 Other disclosures
67 Bodies
68 Auditing Association
68 Other financial obligations
69 Contigent liability
70 Independent Auditor’s Report
75 Affirmation by the Legal Representatives
76 Annex to Annual Financial Statements pursuant to Section 26a Para. 1
Sentence 2 of the German Banking Act (KWG)
77 Report of the Supervisory Board
80 Further Information
81 The members of the Delegates Meeting
82 Agenda – General (Delegates) Meeting
83 Executive management and bodies
84 Contact
87 Imprint
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MÃœNCHENER HYPOTHEKENBANK EGANNUAL REPORT 2020
NOTESMANAGEMENT REPORT FURTHER INFORMATION
ANNUAL STATEMENT
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FOREWORD
CONTENT
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IN CONVERSATION: THE KEY ISSUES FOR US IN 2020
ARE COVERED IN OUR ONLINE ANNUAL REPORT:
SOLIDARITY.
OUR STRENGTH.
 www.muenchenerhyp.de/geschaeftsbericht2020/en/
Digitalisation gathering pace
What digital processes have proved to be essential
during the COVID-19 pandemic, and how will things
progress in terms of digitalisation? General Executive
Manager Ulrich Scheer looks back and into the future.
Working from home
How did the sudden switch to working from home
pan out at MünchenerHyp? Dr Phil Zundel, Head of
Central Services, talks about working from home
during the COVID-19 crisis, and tells us which
changes are here to stay.
The future of the property markets
The crisis saw uncertainty return to the property market.
Jan Polland, Thomas Hügler, Heads of Commercial and
Private Real-Estate Finance, explain the developments and
reveal whether the opportunities for investors lie.
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MÃœNCHENER HYPOTHEKENBANK EGANNUAL REPORT 2020
NOTESMANAGEMENT REPORT FURTHER INFORMATION
ANNUAL STATEMENT
OF ACCOUNTS
FOREWORD
CONTENT
SEARCH