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Düsseldorfer Hypothekenbank

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Coordinates: 51°13′16″N 6°46′55″E / 51.221179°N 6.781893°E / 51.221179; 6.781893
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Düsseldorfer Hypothekenbank AG
Company typeCorporation
IndustryMortgage bank
Founded19 March 1990
HeadquartersDüsseldorf, Germany
Total assets€6.866 billion (2016)[1]
Number of employees
65 (2016)[1]
Websitewww.duesshyp.de

The Düsseldorfer Hypothekenbank AG, also known as DüssHyp, is a mortgage bank based in Düsseldorf that specializes in government and real estate financing.[2] (Until the mortgage bank law was abrogated, this term referred to a private law credit institution granting long-term loans secured by mortgages and loans to public authorities.) Refinancing takes place through issuing bonds via the capital market.[3]

The bank specializes in commercial real estate financing. It only engages in direct business to a limited extent; the focus is on syndicate business.

History

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The institute was founded by the entrepreneur de:Wolfgang Schuppli . As a consequence of the world-wide financial crisis in 2007, it was necessary for the deposit guarantee fund (de:Einlagensicherungsfonds) of the Federal Association of German Banks (BdB) to take over the shares in 2008. It sold them in 2010 to LSF5 German Investments II, L.P. in Delaware, USA (94%) and to LSF5 Riverside Ltd. & Co KG in Frankfurt, Germany (6%)[4] companies belonging to the Lone Star Group.[5] This group was also a shareholder of the Corealcredit Bank. Schuppli later sued the BdB and other defendants for approx. € 500 million in damages because the sale came only through threat and coercion.[6] The charge was dismissed in the first instance. The balance sheet total decreased to € 11 billion as of 30 June 2013 compared to the end of the previous year.[7] The accumulated loss amounted to € 516.4 million in mid-2013; This result was essentially based on the loss carryforward, thus largely coming from the result of earlier financial years. In December 2013, with the maturity of a bond issued by the Düsseldorfer Hypothekenbank of 1.1 billion, the last remaining liquidity guarantee of the SoFFin was repaid.[8]

The Lone Star Group - allegedly - sold their shares to the MainFirst founder Patrick Bettscheider and the British investment company Attestor Capital.[9] However, it became known in March 2015 that the Düsseldorfer Hypothekenbank once again faced bank failure in the wake of the Hypo Alpe Adria crisis, implying that the ownership status was unclear.[10]

On 15 March 2015, the Federal Association of German Banks announced that the private-sector deposit guarantee fund provided a guarantee for the so-called Heta bonds in order to eliminate the acute risks. The aim is to take over the bank through the Deposit Guarantee Fund.[11] According to its 2017 Annual Report, an investment company of the Deposit Guarantee Fund is the sole shareholder.[12]

The Bank is a member of the Association of German Banks (de: Bundesverband deutscher Banken )and the Verband deutscher Pfandbriefbanken'.[13]

Key figures

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Reference number 2016[1] 2015[14] 2014[15] 2013
New real estate business (EUR million) 0 162 712 494
Real estate loans portfolio (EUR million) 1.033 1.405 1.213 1.093
Capital markets (portfolio) (EUR million) 4.478 5.445 8.445 9.462
Earnings after taxes (EUR million) −94,0 −40,7 −42,0 −59,6
Core capital ratio 13,1 % 10,5 % 10,8 % 13,2 %

References

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  1. ^ a b c "2016 Gschäftsbericht" (PDF). Düsseldorfer Hypothekenbank. 2017. Retrieved 6 March 2019.
  2. ^ Osman, Yasmin (12 August 2010). "Erblasten reißen Düsselhyp tief in die Verlustzone". Handelsblatt. Retrieved 6 March 2019.
  3. ^ Hölscher, Reinhold. "Hypothekenbanken Definition". Springer Fachmedien. Retrieved 6 March 2019.
  4. ^ "Ausgewählte Finanzdaten" (PDF). Düsseldorfer Hypothekenbank. 2012. Archived from the original (PDF) on 2 December 2013. Retrieved 6 March 2019.
  5. ^ Stricker, Arnd (7 December 2010). "Verkauf der Düsseldorfer Hypothekenbank an die Lone Star–Gruppe vollzogen" (PDF). Düsseldorfer Hypothekenbank. Retrieved 6 March 2019.
  6. ^ "Rekordklage beim Landgericht". RP ONLINE. 19 October 2009. Retrieved 6 March 2019.
  7. ^ Mussler, Hanno (16 March 2015). "Bankenverband übernimmt Bank in Not". Frankfurter Allgemeine. Retrieved 6 March 2019.
  8. ^ Breitkopf, Thorsten (17 December 2013). "Die Rückkehr der Düsseldorfer Hypo-Bank". RP ONLINE. Retrieved 6 March 2019.
  9. ^ "Lone Star wird Immobilienbank DüsselHyp los". WortschaftsWoche. 25 August 2014. Retrieved 6 March 2019.
  10. ^ ""Wie bei Lehman": Mitten in Deutschland droht eine Bankenpleite". FOCUS Online. 12 March 2015. Retrieved 6 March 2019.
  11. ^ "Bankenverband zur Düsseldorfer Hypothekenbank". bankenverband. 15 March 2015. Retrieved 6 March 2019.
  12. ^ "2017 Geschäftsbericht" (PDF). Düsseldorfer Hypothekenbank. Archived from the original (PDF) on 6 April 2018. Retrieved 6 March 2019.
  13. ^ "Pfandbriefe als nachhaltiges Refinanzierungsinstrument". Verband deutscher Pfandbriefbanken. Retrieved 6 March 2019.
  14. ^ "2015 Geschäftsbericht" (PDF). Düsseldorfer Hypothekenbank. 2016. Retrieved 6 March 2019.
  15. ^ "2014 Geschäftsbericht" (PDF). Düsseldorfer Hypothekenbank. 2015. Retrieved 6 March 2019.
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51°13′16″N 6°46′55″E / 51.221179°N 6.781893°E / 51.221179; 6.781893

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