Eurohypo

The Mortgage Bank AG Frankfurt ( until 31 August 2012 Euro Hypo ) is a specialist bank for commercial real estate and public finance based in Eschborn near Frankfurt am Main. It is a wholly owned subsidiary of Commerzbank.

Indicators

Key figures at 31 December 2012: Adjusted earnings before taxes -457 million euros ( 86.8 % compared to the previous year ); Return on equity of -8.0 % (PY: 54.4 %); Cost-income ratio of 52.9 % (previous year: 67.9 %).

History

On 6 November 2001 gave the three major German private banks - German Bank, Dresdner Bank and Commerzbank - together with the board members of their mortgage banking subsidiaries, in a joint press conference announced that they reduced their holdings in Euro Hypo " old " Rheinhyp and Deutsche Hyp intention to merge. On 29 April 2002, the signatures were put under the merger agreements. In June 2002, the general meetings of the Institute approved the merger on 13 August 2002, the new Euro Hypo AG was entered in the commercial register of the Local Court of Frankfurt am Main. The status of a mixed mortgage bank was able to be taken over by the German Hyp.

German Hyp - German Mortgage Bank Frankfurt- Hamburg AG

The German Hyp was the mortgage bank of Dresdner Bank and was created in 1998 from a merger of the three mortgage banks, which belonged to the Dresdner Bank.

The first was founded in 1862 as a German mortgage bank in Meiningen. In 1938, the office moves to Weimar, from there in 1948 to Bremen. In 1972, the merger with the Saxon Bodencreditanstalt. In 1989 the office was moved to Frankfurt am Main. In the same year the acquisition of Palatine Mortgage Bank was.

The second bank was the mortgage bank in Hamburg AG, which was founded in 1871 in Hamburg.

The third mortgage bank, Northern German Mortgage and Exchange Bank AG was also North Hypo - called Bank with headquarters in Hamburg. It was founded in 1871 as Mecklenburg Mortgage and Exchange Bank in Schwerin. The North Hypo also brought the status of a mixed mortgage bank in the later DeutscheHyp and therefore, also in the Euro Hypo one.

In 1998, the merger of the three institutions to the North German Mortgage and Exchange Bank AG, which was performed as a result of a subsequent change of name as German mortgage bank Frankfurt -Hamburg AG.

Euro Hypo Aktiengesellschaft - European mortgage bank Deutsche Bank ( Euro Hypo old)

The Euro Hypo ( old) was the mortgage lender Deutsche Bank and was established ( founded in 1927 ) and the Frankfurt floor Central Mortgage Bank AG by the merger of Lübeck Mortgage Bank AG 1998.

The Frankfurt Central Mortgage Bank AG soil was in 1995 from the acquisition of the German Central Credit bottom -AG in Berlin and Cologne by the Frankfurt Mortgage Bank AG, founded in 1862 in Frankfurt am Main, forth.

The German Central Bodenkreditbank - AG was formed in 1930 (founded in 1870) from the merger of the Prussian Pfandbrief Bank and the Prussian Central Soil credit AG.

Rheinhyp - Rheinische Mortgage Bank AG

The Rheinhyp was founded as Rheinische mortgage bank headquartered in Mannheim in 1871, a hundred years later, taken over by Commerzbank AG as their mortgage lender in 1971. After merger in 1974 with the West German Land-bank, founded in 1893 in Cologne, in 1975 the transfer to Frankfurt am Main.

Acquisition of Euro Hypo by Commerzbank

In October 2005, the Commerzbank exercised a right accruing preemption and acquired the outstanding shares of Euro Hypo in two tranches. As of April 2006, approximately 98 % of the shares held by Commerzbank. The remaining two percent were still in free float. The shareholders of Euro Hypo voted at the AGM on 29 August 2007, the transfer of shares of Euro Hypo - minority shareholders in the Euro Hypo - principal shareholder ( squeeze-out ), and a control and profit to. Commerzbank said in this context that the Euro Hypo will continue to occur as a separate legal entity with its own brand in the market. The decision of the General Meeting of 29 August 2007 concerning the transfer of shares from other shareholders (minority shareholders) of Euro Hypo AG to Commerzbank Germany Holding GmbH, Frankfurt am Main (the majority shareholder ) was in the Commercial Register of the Local Court of Frankfurt am on 25 July 2008 Main registered and thus became effective. With this entry by operation of law, all shares of the minority shareholders of Euro Hypo AG were transferred to Commerzbank Germany Holding GmbH. The Euro Hypo AG has been one of 100% of the Commerzbank Group. The processing in the private banking activities of Euro Hypo was then swapped into Commerzbank.

In 2008, the part of the Commerzbank mortgage bank was in Essen merged with Euro Hypo.

Sale of Euro Hypo -Systems GmbH

% Subsidiary of Euro Hypo, their principal business activity the provision of IT services for the Euro Hypo Group was formed, sold on July 1, 2008 at the Commerzbank - According to the annual report from 2008, the Euro Hypo AG 100 was the Euro Hypo Systems GmbH. Legal rights such as direct pension commitments against the Euro Hypo -Systems GmbH thus went on to Commerzbank AG.

Cleavage and reorientation of Euro Hypo AG

The European Commission decided on 7 May 2009 that the aid granted in the financial and capital markets from the Financial Market Stabilization Fund under the crisis state aid to Commerzbank AG is authorized only if the Commerzbank AG separates in return until 2014 by her daughter Euro Hypo AG. This step should avoid competitive distortions.

The Euro Hypo was prompted because of the housing crisis and the subsequent capital market situation, adapt their business model to changing market conditions from the end of 2008. Since then, the Bank focused on inventory and development financing of residential real estate projects ( in Germany ), as well as office, retail and logistics properties and business hotels in ten key markets ( Germany, France, Italy, Poland, Portugal, Russia, Spain, Turkey, United Kingdom, USA). In this environment, new business in the state funding was discontinued.

Processing / renaming

On March 30, 2012, Commerzbank announced that the European Commission has changed the original sales support for the Euro Hypo in a condition to run. Consequently, the Euro Hypo ( core area Commercial Real Estate ) and " non-core activities " (Public Finance, Non - core Commercial Real Estate ) is split into " core activities ". The areas of non-core activities are outsourced and Public Finance in the new segment " Non Core Assets " and completely degraded in the long term. In accordance with a specification of the EU Commission, the Euro Hypo brand must be abandoned.

On 31 August, the Euro Hypo was renamed Mortgage Bank AG Frankfurt and equipped with a new logo. With symbols and lettering, the new logo of the Mortgage Bank of Frankfurt to the logo of one of their pre-predecessor, Deutsche Hyp (see above) refuses to.