Mortgage bank Frankfurt

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  Hypothekenbank Frankfurt AG
logo
Headquarters of the former Eurohypo
Country GermanyGermany Germany
Seat Eschborn
legal form Corporation
founding August 13, 2002 (predecessor institutes: December 8, 1862)
resolution May 2016 (return of the banking license)
Website www.hypothekenbankfrankfurt.com
management
Board Dirk Wilhelm Schuh, speaker;
Sascha Klaus
Supervisory board Stefan Schmittmann, chairman

Template: Infobox_Kreditinstitut / Maintenance / ID is missing

The Eurohypo AG (until 31 August 2012 Euro Hypo ) was a specialist bank for commercial real estate and public finance , based in Eschborn with Frankfurt until May 2016, the banking license was returned. It was a wholly owned subsidiary of Commerzbank .

history

On November 6, 2001, the three large German private banks - Deutsche Bank , Dresdner Bank and Commerzbank - together with the board members of their mortgage bank subsidiaries announced in a joint press conference that they had announced their stakes in Eurohypo "old", Rheinhyp and Deutsche Hyp want to merge. On April 29, 2002, the signatures were placed on the merger agreements. In June 2002 the annual general meetings of the institutes approved the merger and on August 13, 2002 the new Eurohypo AG was entered in the commercial register of the local court of the city of Frankfurt am Main. The status of a mixed mortgage bank could be taken over by Deutsche Hyp.

Deutsche Hyp - Deutsche Hypothekenbank Frankfurt-Hamburg AG

Logo of Deutsche Hyp 2001–2002

Deutsche Hyp was Dresdner Bank's mortgage bank and was created in 1998 from a merger of the three mortgage banks that belonged to Dresdner Bank.

The first was founded in Meiningen in 1862 as the Deutsche Hypothekenbank . In 1938 the company moved to Weimar, from there to Bremen in 1948. In 1972 the merger with the Sächsische Bodencreditanstalt took place . In 1989 the headquarters were moved to Frankfurt am Main. In the same year, the Palatinate Hypothekenbank was taken over .

The second bank was the Hypothekenbank in Hamburg AG , which was founded in Hamburg in 1871.

The third mortgage bank was Norddeutsche Hypotheken- und Wechselbank AG , also known as Nordhypo-Bank, based in Hamburg. It was founded in Schwerin in 1871 as a Mecklenburg mortgage and exchange bank . Nordhypo also brought the status of a mixed mortgage bank to what would later become DeutscheHyp and, consequently, also to Eurohypo.

In 1998, the three institutes merged to form Norddeutsche Hypotheken- und Wechselbank AG , which was subsequently renamed as Deutsche Hypothekenbank Frankfurt-Hamburg AG .

Eurohypo Aktiengesellschaft - Deutsche Bank's European Mortgage Bank (Eurohypo old)

The Euro Hypo (old) was the mortgage bank Deutsche Bank and was formed in 1998 through the merger of Lübeck Hypothekenbank AG (founded in 1927) and the Frankfurter Hypothekenbank AG Central floor .

The Frankfurter Hypothekenbank AG Central floor went in 1995 from the acquisition of the German Central Bodenkredit-AG in Berlin and Cologne by the Frankfurter Hypothekenbank AG , founded in 1862 in Frankfurt, out.

The German Central Bodenkredit-AG was established in 1930 by the merger of Prussian Pfandbrief Bank and the Prussian Central Bodenkredit-AG (founded in 1870).

Rheinhyp - Rheinische Hypothekenbank AG

Pfandbrief for 500 marks from Rheinische Hypothekenbank dated August 1, 1898

Rheinhyp was founded as Rheinische Hypothekenbank in Mannheim in 1871 and 100 years later, in 1971, it was taken over by Commerzbank AG as its mortgage bank. After merging in 1974 with the Westdeutsche Bodenkreditanstalt , founded in Cologne in 1893, the headquarters were relocated to Frankfurt am Main in 1975.

Takeover of Eurohypo by Commerzbank

Logo of Eurohypo until it was renamed in 2012

In October 2005, Commerzbank exercised its right of first refusal and acquired the outstanding shares in Eurohypo in two tranches. As of April 2006, about 98% of the shares were owned by Commerzbank. The remaining two percent were still in free float. At the annual general meeting on August 29, 2007, the Eurohypo shareholders approved the transfer of the shares of the Eurohypo minority shareholders to the Eurohypo majority shareholder ( squeeze-out ) and a control and profit transfer agreement. In this context, Commerzbank announced that Eurohypo would continue to appear on the market as an independent legal entity with its own brand. The resolution of the Annual General Meeting on August 29, 2007 on the transfer of the shares of the other shareholders (minority shareholders) of Eurohypo AG to Commerzbank Inlandsbanken Holding GmbH, Frankfurt am Main, (main shareholder) was entered in the commercial register of the Frankfurt Local Court on July 25, 2008 Main and became effective. With this entry, all shares of the minority shareholders of Eurohypo AG were transferred to Commerzbank Inlandsbanken Holding GmbH by law. Since then, Eurohypo AG has been wholly owned by the Commerzbank Group. The processing of Eurohypo's private customer business was then outsourced to Commerzbank.

In 2008, the Commerzbank-owned mortgage bank in Essen was merged with Eurohypo.

Sale of Eurohypo-Systems GmbH

According to the 2008 annual report of Eurohypo AG, Eurohypo Systems GmbH, a wholly-owned subsidiary of Eurohypo, whose business focus was on providing IT services for the Eurohypo Group, was sold to Commerzbank on July 1, 2008. Legal claims such as direct company pension commitments against Eurohypo-Systems GmbH were thus transferred to Commerzbank AG.

Spin-off and realignment of Eurohypo AG

The European Commission decided on May 7, 2009 that the state aid granted by the Financial Market Stabilization Fund to Commerzbank AG in the context of the crisis in the financial and capital markets will only be approved if Commerzbank AG separates from its subsidiary Eurohypo AG by 2014. This step should avoid distortions of competition.

From the end of 2008, Eurohypo felt compelled to adapt its business model to the changed market conditions due to the real estate crisis and the subsequent capital market situation. Since then, the bank has focused on portfolio and development financing for residential property projects (in Germany), as well as office, retail and logistics properties and business hotels in ten core markets (Germany, France, Italy, Poland, Portugal, Russia, Spain, Turkey, Great Britain , UNITED STATES). In this environment, new business in public finance was also discontinued.

Processing / renaming

On March 30, 2012, Commerzbank announced that the EU Commission had changed the original sales requirement for Eurohypo to a settlement requirement. As a result, Eurohypo will be split into the areas of “core activities” (core area Commercial Real Estate) and “non-core activities” (public finance, non-core area Commercial Real Estate). The areas of non-core activities and public finance will be outsourced to the new "Non Core Assets" segment and will be completely dismantled in the long term. According to a requirement of the EU Commission, the Eurohypo brand must be abandoned.

On August 31, Eurohypo was renamed Hypothekenbank Frankfurt AG and given a new logo. The symbol and lettering of the new Hypothekenbank Frankfurt logo is based on the logo of one of its predecessors, Deutsche Hyp (see above).

In May 2016, Hypothekenbank Frankfurt AG was renamed LSF Loan Solutions Frankfurt GmbH , with all essential assets (assets and liabilities) transferred to Commerzbank AG and the banking license of Hypothekenbank Frankfurt returned.

Web links

Commons : Eurohypo  - collection of images, videos and audio files

Individual evidence

  1. Strasser, Herber: Outsourcing trends in the German banking sector , GRIN Verlag , October 2008, ISBN 3-640-18083-6 , pp. 55–56
  2. EU approves state aid for Commerzbank. Handelsblatt , May 7, 2009, accessed on October 21, 2012 .
  3. Coba share: Brussels paves the way. Handelsblatt , May 7, 2009, accessed on October 21, 2012 .
  4. Restructuring of Eurohypo and realignment of the Commercial Real Estate business area. Commerzbank , March 30, 2011, accessed on October 20, 2012 (press release).
  5. Full power back: Captain Blessing changes course. Handelsblatt , June 27, 2012, p. 2 - last paragraph , accessed on October 1, 2012 .
  6. Eurohypo renamed Hypothekenbank Frankfurt AG. Hypothekenbank Frankfurt AG, September 1, 2012, accessed on October 1, 2012 (press release).
  7. Wealthy private investors wanted. Handelsblatt , September 9, 2012, accessed on October 1, 2012 (note in a subordinate clause).
  8. Official website of LSF Loan Solutions Frankfurt GmbH

Coordinates: 50 ° 8 ′ 16.3 "  N , 8 ° 34 ′ 54.2"  E