DGAP-News: Hypoport AG: Dr. Klein: double-digit growth in transaction volumes
(firmenpresse) - DGAP-News: Hypoport AG / Key word(s): Miscellaneous/Miscellaneous
Hypoport AG: Dr. Klein: double-digit growth in transaction volumes
23.10.2013 / 09:58
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Press release
Volume of Private Clients transactions in the first nine months of 2013
Dr. Klein: double-digit growth in transaction volumes
The Private Clients division of financial service provider Dr. Klein&Co.
AG achieved double-digit growth rates in its volumes of loan and insurance
transactions in the first nine months of this year compared with the
corresponding period of 2012. The Company's insurance portfolio - a key
indicator of future success in the increasingly tough market environment -
posted the strongest growth, increasing by 37 per cent.
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 from January to
September 2013 rose by 19 per cent to approximately EUR4.05 billion
compared with the EUR3.4 billion reported for the first nine months of
2012. This robust growth resulted from the consistently high demand for
mortgage finance coupled with highly attractive terms and conditions
available on building finance products. The value of insurance transactions
generated in the first nine months of 2013 rose by 16 per cent to EUR15.8
million (Q1-Q3 2012: EUR13.6 million). The decrease in the volume of health
insurance transactions was more than offset by the growth in life insurance
and the substantial increase in general insurance.
Stephan Gawarecki interprets the transaction-related figures
Stephan Gawarecki, the chief executive officer (CEO) of Dr. Klein&Co. AG,
commented on the prevailing trends in the lending market: 'The rise in
property finance interest rates from May onwards fuelled strong mortgage
demand that continued in the third quarter of 2013. Although we expect
interest rates to remain attractive in the short term, we reckon that they
will rise over the medium to long term.' The insurance market has again
been shaken in recent weeks by regulatory initiatives on the part of
insurers. 'The trend towards narrowing margins on insurance advisory and
brokerage services is irreversible. We expect the number of independent
advisors to fall, which will have an adverse impact on consumers. Small
brokers that have a large client base will manage to survive despite
falling margins and burgeoning regulatory requirements. Independent
distribution organisations with multi-layered hierarchies will become less
competitive owing to their high overheads. Because margins are narrowing,
efficient ways of attracting and serving clients are becoming a key
competitive advantage. Dr. Klein's business model combines comprehensive
one-stop advisory services with automated processes and a strategy of
winning prospective customers over the internet. By keeping our processes
lean we have thus managed to achieve increasingly strong growth in our
client base.'
Explanatory note concerning information on Dr. Klein's financial results
Owing to complex 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 of financial needs. Around 800 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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23.10.2013 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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235743 23.10.2013
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Unternehmensinformation / Kurzprofil:
Datum: 23.10.2013 - 09:58 Uhr
Sprache: Deutsch
News-ID 308361
Anzahl Zeichen: 5278
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Kategorie:
Business News
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