German bank Berlin Hyp issued €1.8 bn in new property loans in the first six months of 2014, twice as much as in the same period last year.
German bank Berlin Hyp issued €1.8 bn in new property loans in the first six months of 2014, twice as much as in the same period last year.
Of the €1.8 bn in new lending, €373 mln was in the form of extensions to existing facilities.
Despite the increase, profits before tax fell to €32 mln from €51 mln as a result of restructuring, costs from the European Central Bank´s Asset Quality Review and low interest rates.
‘Particularly in light of the clear increasing competition, this presents a good result,’ said Jan Bettink, the bank’s CEO.