Corporate | 15 April 2014 08:57
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Hypoport AG / Key word(s): Quarter Results
Press release Volume of transactions in Q1 2014 EUROPACE: Transaction volume up by 18 per cent year on year Berlin, 15 April 2014: The volume of transactions processed on the Europace financial marketplace in the first quarter of 2014 was up by roughly 18 per cent year on year to a total EUR8.46 billion. This is the third time that the transaction volume has topped the EUR8 billion mark. In March 2014 alone, the volume of transactions processed across all product segments reached EUR3.16 billion. The personal loans product segment recorded the biggest increase in its transaction volume, which was up by around 26 per cent on the first quarter of last year, thus continuing a trend seen in the results for 2013 as a whole. The building finance product line followed with an increase of roughly 20 percent, while growth in mortgage finance was around 17 per cent. “The economic conditions are favourable for some financial products,” reports Thilo Wiegand, Chief Executive Officer of Europace AG. “Demand for residential property is high because interest rates are low, Germany’s economic prospects are good and wages are rising. Added to which, the Europace marketplace with its lean processes and ability to offer third-party brokerage to an increasing number of financial institutions is establishing itself as an attractive distribution channel.” Performance of the Europace platform in the first quarter of 2014 In the first quarter of this year, the transaction volume processed on Europace across all product segments rose to EUR8.46 billion, outstripping the volume of EUR7.20 billion in the first quarter of 2013 by more than a billion. In absolute terms, mortgage finance remained the product segment with the largest share of Europace’s aggregate business volume. It accounted for EUR6.45 billion in the first quarter of 2014, and for EUR5.53 billion in the same period in 2013. Personal loans, the smallest product segment, achieved the strongest growth with a first-quarter transaction volume of EUR396 million in 2014 compared with EUR315 million in the same period of last year. “Building finance products remain in demand,” says Wiegand. “They enable home buyers to secure low interest rates over the long term, and eliminate interest-rate risk. At the beginning of the year, several building finance associations also brought their charges in line with the lower level of interest rates, which is likely to have further increased demand.” The transaction volume for building finance products grew to EUR1.61 billion (Q1 2013: EUR1.35 billion). N.B.: Owing to specific market-related factors and the accounting treatment applied, neither the revenue generated by the Group as a whole nor the revenue earned by individual units can be directly extrapolated from the transaction figures shown above.
About EUROPACE
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@hypoport.de Internet: www.hypoport.de Twitter: http://twitter.com/Hypoport End of Corporate News 15.04.2014 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, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Hypoport AG | |
| Klosterstraße 71 | ||
| 10179 Berlin | ||
| Germany | ||
| Phone: | +49/30 42086-0 | |
| Fax: | +49/30 42086-1999 | |
| E-mail: | ir@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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