ANNUAL REPORT 2008 - DG Hyp

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STRATEGIC REALIGNMENT Realignment of DG HYP successfully concluded DG HYP successfully implemented its strategic realignment in its capacity as a commercial real estate bank during the 2008 financial year. In terms of its business strategy, DGH HYP has placed the focus on commercial real estate lending business in Germany and abroad. As planned, residential real estate business in the retail banking sector was no longer pursued with effect from 1 January 2008. Existing loan portfolios relating to private real estate finance will continue to be maintained by DG HYP. Where loans are due to be extended, the customers will be given the opportunity of having their loans extended by the respective cooperative bank, or by Bausparkasse Schwäbisch Hall. Where preferred by the cooperative banks in question, DG HYP will transfer the loans that they arranged back to them en bloc. The first portfolio transfer took place during the reporting year with further transfers scheduled for 2009. Optimisation of internal processes and organisational structures DG HYP had already begun with the rapid implementation of its reorganisation during the first half of 2008. Processes and organisational structures in sales, the back office and in the various staff departments have been DG HYP‘S STRATEGIC POSITION Originated German Business DG HYP Commercial real estate bank Commercial Real Estate Finance International and Secondary Market Business 20 Deutsche Genossenschafts-Hypothekenbank AG | Annual Report 2008 Management Report geared towards the new business model. The Bank’s personnel capacity has also been reduced. In addition, the Bank’s main sources of non-personnel costs – such as infrastructure and IT – have been optimised. This task also extended to comprehensive outsourcing activities. Implementation of these measures had already led to a marked reduction in personnel and non-personnel costs by the end of 2008. With regard to 2009, the further optimisation of the way in which the Bank is aligned on its new business model will be one of the main tasks facing DG HYP. With regard to activities in the domestic direct and cooperative banking sector markets, as well as in foreign and secondary market business, the expansion of sales capacity and sales management, as well as ongoing process optimisation in relation to the front and back office activities, will be the main priorities during the current financial year. The realignment of the Bank and the measures that have already been successfully put in place mean that DG HYP has created the prerequisites for growth in its capacity as a commercial real estate bank. DG HYP will consistently continue to pursue the route embarked upon during the year under review. Cooperative Sector Sales Local Authority Lending, Public Finance, Treasury
Management Report FINANCIAL SITUATION AND RESULTS OF OPERATIONS Deutsche Genossenschafts-Hypothekenbank AG | Annual Report 2008 21
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 and 20: Management Report SPECIAL PORTFOLIO
Page 21: Management Report STRATEGIC REALIGN
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 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
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ANNUAL REPORT 2008 - DG Hyp

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