DG Hyp strongly expanded its new property financing business during the first half of 2009,. Compared to the same period during the prior year, the volume of approved loans rose by 19.1% to approximately EUR 2 bn.
DG Hyp strongly expanded its new property financing business during the first half of 2009,. Compared to the same period during the prior year, the volume of approved loans rose by 19.1% to approximately EUR 2 bn.
This growth was attained mainly inside Germany, where new business soared by 41.5% to EUR 1.5 bn. For the second half of the year, the bank said it expects heightened default risks in its mortgage backed securities (MBS) portfolio.
Rating reductions, according to the firm, especially for MBSs with an investment focus on the US.. and Great Britain, will burden regulated capital requirements, necessitating a cash injection from its parent firm, DZ Bank.
