DEPFA has gone from strength to strength since it split from the Aareal mortgage bank and moved to Dublin. Jan Wagner reports from Frankfurt and Dublin on the most profitable bank active in Germany today.
Germany’s mortgage banks have been partying recently. In May, Eurohypo held a bash to celebrate the 10th anniversary of the “Jumbo Pfandbrief”. Since its introduction, the high-volume Jumbo has spawned a €600bn European market.
As the market leader, Eurohypo and its peers whooped it up. Attractions included plenty of champagne and an elephant installed in front of the Frankfurt stock exchange. Another Pfandbrief conference, replete with champagne, was hosted in June.
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A cause for celebration
July 4, 2005Too much of a good thing?
July 4, 2005The UK’s Financial Services Authority has set the template for regulation around the world but it has recently come in for criticism from politicians and market players for overdoing the red tape. How justified are the claims? asks Nick Kochan.
China’s growth marks new economic era
July 4, 2005
China has entered a new cycle of growth and is willing to integrate further into the world economy, contributing to the greater global good, according to Jin Renqing, the Chinese finance minister.
The politician was speaking at a presentation to mark his acceptance of The Banker’s Finance Minister of the Year, Asia award in London early last month. Mr Jin outlined the latest macroeconomic developments in his home nation and revealed Chinese efforts to maintain a stable economic outlook.
Peru and Brazil field rivals for IDB presidency
July 4, 2005Two main candidates are lining up to replace Enrique Iglesias as president of the Inter-American Development Bank (IDB), the biggest multilateral development bank in Latin America. Mr Iglesias, who has held the position since 1988, has decided to step down at the end of September.
SEC chair Cox is Republicans’ man of the moment
July 4, 2005The republican chairman of the Senate Banking Committee, Richard Shelby, has thrown his support behind the new chairman of the US Securities and Exchange Commission (SEC), Christopher Cox. He also criticised former chair William Donaldson for failing to listen to his Republican peers.
UniCredit shows its strength with German merger
July 4, 2005
UniCredit, Italy’s biggest bank by market capitalisation, last month announced a €15bn deal to merge with Germany’s HypoVereinsbank.
The news will be welcomed by the Italian president, Carlo Azeglio Ciampi, who has a background in banking and is an unapologetic enthusiast for European integration.
US bank profits are about to head south
July 4, 2005The medium-term outlook for profits at US banks is gloomy, according to Andrew Smithers and George Leventis.
UniCredit’s HVB deal does not signify a trend
July 4, 2005It will take more than the Italian bank’s takeover of the less than attractive German institution to prompt a torrent of consolidation.
Consumer lending
July 4, 2005In recent years, there has been a rapid increase in consumer lending. At the same time, despite high average annual growth rates in this segment for the past three years (48%-50%), the market is set to expand further. The retail loans/GDP ratio is not more than 3% compared with 74% in the US, 52% in the EU and an average of 20% in the developing countries.
Never mind the shirt, watch the shares
July 4, 2005Having rewritten Lloyds TSB’s poor growth story, CEO Eric Daniels now wants to strengthen the bank’s franchise, he tells Karina Robinson.