ANNUAL REPORT 2008 - DG Hyp

More documents

Recommendations

Info

SPECIAL PORTFOLIO Successive reduction of the special portfolio In line with its new business strategy and the strategic realignment, DG HYP ceased to take on new lending business in the area of private real estate finance – providing finance for residential property to retail customers, effective 1 January 2008. As a result, new private construction financing business is to be transferred within the DZ BANK Group to Bausparkasse Schwäbisch Hall. The existing business will remain with DG HYP; exposures not exceeding € 500,000 will be serviced by VR Kreditwerk AG in accordance with section 25a of the German Banking Act. With effect from 1 October 2008, VR Kreditwerk AG will provide these processing services through its Mannheim-based subsidiary Kreditwerk Hypotheken Management GmbH. Loan portfolios to be kept within the Cooperative Financial Services Network Within the special portfolio, the loan portfolio that no longer comprises DG HYP’s target business will be processed and gradually reduced. The special portfolio primarily comprises retail business in the area of finance for residential property. As at 31 December 2008, DG HYP’s portfolio included some 159,000 retail customers accounting for a volume of approximately € 12.7 billion. 18 Deutsche Genossenschafts-Hypothekenbank AG | Annual Report 2008 Management Report The aim, within the process of prolongation of loans, is to transfer as many loans as possible at interest maturity to the cooperative banks that arranged the business, and to Bausparkasse Schwäbisch Hall. Additionally, the business shall be processed as lean and efficient as possible. At the request of the cooperative banks concerned, DG HYP in 2008 began transferring back the retail portfolios that the banks had arranged. A first portfolio transfer was successfully concluded at the end of 2008. Further cooperative banks have expressed an interest in this move, with the result that further transfers can be expected in the 2009 financial year. In addition to retail business in the area of residential real estate finance, within the special portfolio the NPL portfolio and the non-strategic commercial real estate lending business, representing a volume of € 2 billion, are also being processed. The latter comprises small-scale commercial lending and the residual portfolios from agricultural lending business. DG HYP ceased actively pursuing agricultural lending business back in 2003.
Management Report STRATEGIC REALIGNMENT Deutsche Genossenschafts-Hypothekenbank AG | Annual Report 2008 19
Page 1 and 2: Deutsche Genossenschafts-Hypotheken
Page 3 and 4: CONTENTS Letter from the Management
Page 5 and 6: We successfully implemented our str
Page 7 and 8: Management Report ECONOMIC ENVIRONM
Page 9 and 10: Management Report COMMERCIAL REAL E
Page 11 and 12: Management Report Differing market
Page 13 and 14: Management Report With regard to re
Page 15 and 16: Management Report Products tailored
Page 17 and 18: Management Report LOANS TO LOCAL AU
Page 19: Management Report SPECIAL PORTFOLIO
Page 23 and 24: Management Report FINANCIAL SITUATI
Page 25 and 26: Management Report OWN FUNDS FOR SOL
Page 27 and 28: Management Report Net income During
Page 29 and 30: Management Report RISK REPORT I) Ri
Page 31 and 32: Management Report Furthermore, Risk
Page 33 and 34: Management Report prehensive restru
Page 35 and 36: Management Report From an organisat
Page 37 and 38: Management Report OUR STAFF Job and
Page 39 and 40: Management Report REPORT ON EVENTS
Page 41 and 42: FINANCIAL STATEMENTS Financial Stat
Page 43 and 44: ASSETS BALANCE SHEET 31 Dec 2007
Page 45 and 46: PROFIT AND LOSS ACCOUNT FOR THE PER
Page 47 and 48: Notes to the Financial Statements N
Page 51 and 52: Notes to the Financial Statements (
Page 63 and 64: Notes to the Financial Statements C
Page 65 and 66: Notes to the Financial Statements A
Page 67 and 68: Notes to the Financial Statements A
Page 69 and 70: Notes to the Financial Statements O
Page 71 and 72:
Notes to the Financial Statements (
Page 73 and 74:
RESPONSIBILITY STATEMENT To the bes
Page 75 and 76:
REPORT OF THE SUPERVISORY BOARD Dr.
Page 77 and 78:
Corporate Bodies And Committees; Ex
Page 79 and 80:
Corporate Bodies And Committees; Ex
Page 81 and 82:
DG HYP ADDRESSES Deutsche Genossens
show all

ANNUAL REPORT 2008 - DG Hyp

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?