EANS-News: Hypoport AG
EUROPACE shows that the market is recovering
Berlin, 19 April 2010 (euro adhoc) -
The transaction figures from the EUROPACE platform indicate that the market for mortgages stabilised towards the end of the quarter. Personal loans and building society accounts are also becoming increasingly popular.
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Company Information
Subtitle: The transaction figures from the EUROPACE platform indicate that the market for mortgages stabilised towards the end of the quarter. Personal loans and building society accounts are also becoming increasingly popular.
The total volume of financing transactions processed in the EUROPACE marketplace amounted to about Euro 3.04 billion in the first quarter 2010. As such, the volume has remained virtually stable and is a mere 0.16 percent lower by quarter-on-quarter comparison. This moderate development is due, above all, to the fact that mortgage transactions were still declining slightly at the start of the quarter. Currently, the volume of mortgage transactions amounts to Euro 2.473 billion, equivalent to a 6 percent decline by quarter-on-quarter comparison. According to Thilo Weigand, member of the Management Board and responsible for the Financial Service Providers business unit at Hypoport AG: "Compared with the slumps witnessed in past quarters, this indicates that the market is returning to normal." Both building society accounts and personal loans continue to show satisfactory development. Compared with the previous quarter, personal loans increased by 15.38 percent in the first quarter 2010 to their current volume of Euro 360 million. This equates to a rise of 19.6 percent over the figure posted for the same quarter last year. Building society accounts increased by 554.8 percent compared with the same quarter last year. In a quarter-on-quarter comparison with the fourth quarter 2009, the latest addition to the EUROPACE platform increased its volume by another 107.2 percent to its current level of Euro 203 million.
About Hypoport AG Hypoport Group is an internet-based all-round financial services provider based in Berlin. The Group employs some 450 people. The company has been listed in the Prime Standard on Deutsche Börse since the end of 2007. Its business model consists of two reciprocally beneficial pillars - the sale of financial products (Dr. Klein & Co. AG) and the provision of a platform for transacting financial products via the internet. Hypoport operates the EUROPACE B2B financial marketplace, which is the largest German online platform for transacting financing products. A fully integrated system links more than 40 product providers with several thousand financial advisors, thus enabling the quick and direct agreement of contracts. The platform's highly automated processes generate considerable cost benefits. Nowadays, EUROPACE processes some 400 financing transactions every day. Hypoport AG publishes the monthly house price index (HPX) based on real transaction data. A list of the banks and service providers that use the platform can be downloaded from www.hypoport.de, as can the Annual Report 2008.
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
Börsen: Frankfurt / regulated dealing/prime standard