DGAP-News: Hypoport AG: Dr. Klein: rising transaction volume in a stable but difficult market
(firmenpresse) - DGAP-News: Hypoport AG / Key word(s): Half Year Results
Hypoport AG: Dr. Klein: rising transaction volume in a stable but
difficult market
01.08.2013 / 10:24
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Volume of Private Clients transactions in the first half of 2013
The Private Clients division of financial service provider Dr. Klein&Co.
AG increased its volume of loan and insurance transactions in the first six
months of this year compared with the corresponding period of 2012. The
considerable appeal of mortgage finance and building finance products
remains undiminished, as does demand for general insurance.
Dr. Klein&Co. AG once again made a valuable contribution to the
transaction growth achieved by the Private Clients business unit in the
Hypoport Group. The volume of loan transactions generated in the first six
months of 2013 rose by 27 per cent to approximately EUR2.7 billion compared
with the EUR2.1 billion reported for the first half of 2012. This result
was largely attributable to strong demand for mortgage finance and
disproportionately high growth in building finance. The value of insurance
transactions generated in the first half of 2013 rose by 33 per cent to
EUR11 million (H1 2012: EUR8.2 million). This growth was primarily driven
by increases in life insurance and general insurance, while the volume of
health insurance transactions contracted, as did this market as a whole.
Stephan Gawarecki interprets the transaction-related figures
Stephan Gawarecki, the chief executive officer (CEO) of Dr. Klein&Co. AG,
commented on these results: 'The mortgage finance market is flat and
continues to be restricted by the limited supply available. The insurance
market is undergoing sweeping regulatory changes that are massively
increasing competitive pressures in this sector and are squeezing margins.
Despite these market conditions Dr. Klein has managed to buck the market
trend and generate growth in both segments. This demonstrates that our
long-term franchise strategy - coupled with short-term, flexible
adjustments in line with the market - is taking us in the right direction.'
Gawarecki expects interest rates to remain low in the short to medium term,
which will boost the lending market while acting as a drag on the insurance
market. 'The huge amount of regulation has permanently transformed the
insurance market. Any future rise in interest rates will therefore provide
only a limited amount of stimulus,' stressed Gawarecki and added: 'Any
business model looking to survive in this permanently transformed insurance
market increasingly needs to combine flexibility and financial strength
with a highly innovative approach and a sense of social responsibility.' He
explained that Dr. Klein - operating as part of the Hypoport Group - had
for years now been able to build on these key pillars of success.
Explanatory note concerning information on Dr. Klein's financial results
Owing to specific market-related factors and the accounting treatment
applied, neither the revenue generated by the Hypoport Group as a whole nor
the revenue earned by individual units can be directly extrapolated from
the transaction figures given above.
Information on Dr. Klein
Dr. Klein is an independent provider of financial services for private and
corporate clients. It offers personalised solutions for private clients'
full range offinancial needs. Around 750 specialists deliver impartial and
comprehensive advice over the internet and at more than 200 branches on
issues such as current accounts, deposits, insurance, investments,
mortgages and personal loans. Dr. Klein&Co. AG has been a major financial
service partner to housing companies, local authorities and commercial
property investors since 1954. It provides its institutional clients with a
fully integrated service comprising expert advice and customised solutions
in the areas of financial management, portfolio management and insurance
for business customers. Its client-focused advisory expertise and close,
longstanding relationships with all leading banks and insurance companies
ensure that its customers always have quick and easy access to the best
financial services. Dr. Klein is a wholly owned subsidiary of Hypoport AG,
an online financial service provider that is listed on the Frankfurt Stock
Exchange.
Contact:
Michaela Reimann
Head of Communications
Hypoport AG
Klosterstraße 71
10179 Berlin
Mobile: +49 (0) 151 / 58 04 - 1936
Phone.: +49 (0) 30 / 4 20 86 - 1936
E-mail: michaela.reimann(at)hypoport.de
Internet: www.hypoport.de
Twitter: http://twitter.com/Hypoport
Facebook: http://www.facebook.com/hypoport
End of Corporate News
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01.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Hypoport AG
Klosterstraße 71
10179 Berlin
Germany
Phone: +49/30 42086-0
Fax: +49/30 42086-1999
E-mail: ir(at)hypoport.de
Internet: www.hypoport.de
ISIN: DE0005493365
WKN: 549336
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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223714 01.08.2013
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Unternehmensinformation / Kurzprofil:
Datum: 01.08.2013 - 10:24 Uhr
Sprache: Deutsch
News-ID 283748
Anzahl Zeichen: 6850
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Kategorie:
Business News
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