EANS-News: Hypoport AG
EUROPACE gets off to promising start in 2011
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
Company Information
Berlin, (euro adhoc) - 15 April 2011: Finance transactions worth a total of EUR4.12 billion were processed on the Europace financial marketplace platform in the first quarter of 2011. Regarding the volume of transactions, this enabled Europace to achieve the second-best quarterly result in its history on the back of benign economic conditions and the continuation of low interest rates in the mortgage finance market.
The volume of transactions completed in the first quarter of 2011 totalled EUR4.12 billion, which was 35.7 per cent higher than in the corresponding period of last year (Q1 2010: EUR3.04 billion). This means that in 2011 Europace is continuing to deliver the superior, consistent performance that it attained in 2010. "In the first quarter of 2011 we achieved the second-largest quarterly volume of transactions since we set up our Europace financial marketplace", was how Thilo Wiegand, a member of Hypoport's Management Board, assessed the Company's year-to-date performance. "We are delighted to see how well the mortgage finance market is faring, and this is having a positive direct impact on the volumes of transactions processed on Europace. This level of success is particularly encouraging when you consider that this is only the first quarter, because the housing finance market does not usually begin to pick up until later in the year." The volume of transactions completed in the fourth quarter of 2010 came to EUR3.64 billion, which means that this volume grew by 13.3 per cent in the first quarter of 2011.
Upbeat sectoral trend reflected in individual product areas The volume of mortgage finance transactions completed in the first quarter of 2011 totalled EUR3.47 billion. Encouraged by continuing benign economic conditions and a level of interest rates which, although now rising, remains relatively low, many customers have decided to realise their dream of becoming a homeowner. The increase in transaction volumes compared with the fourth quarter of 2010, which reached a total of EUR3.18 billion, amounted to 9.1 per cent. Compared with the first quarter of 2010, which reported a total of EUR2.47 billion, the volume of mortgage finance transactions grew by 40.2 per cent in the first three months of this year. Europace processed building finance transactions worth roughly EUR0.41 billion in the first quarter of 2011, which was an increase of 85.5 per cent on the final quarter of 2010 (EUR0.22 billion). Transaction volumes grew by 101 per cent on a year-on-year comparison (Q1 2010: EUR0.2 billion). This strong growth was boosted by the introduction of Baufi Online XL (BOXL), which is Europace's first customised sales platform and is used in the mortgage finance market. BOXL has been specially designed to meet the needs of the distribution channels run by BHW Bausparkasse and Deutsche Postbank. "Because it satisfies the specific requirements of these sales channels and can offer a wide range of products on Europace, BOXL significantly strengthens the competitiveness of BHW and Postbank in the keenly contested market for private clients", explained Ronald Slabke, Chief Executive Officer of Hypoport AG. The volume of personal-loan transactions grew by 3.4 per cent to approximately EUR0.25 billion in the first quarter of 2011 compared with the previous quarter (Q4 2010: EUR0.24 billion). Personal loans worth roughly EUR0.36 billion were processed on the Europace platform in the first quarter of 2010.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Michaela Reimann
Group Communications Manager
Telefon: +49 (0) 30 42086 1936
E-Mail: michaela.reimann@hypoport.de
Branche: Financial & Business Services
ISIN: DE0005493365
WKN: 549336
Index: CDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Original content of: Hypoport AG, transmitted by news aktuell