DZ HYP celebrates its 100th anniversary
11.05.2021
- The Bank’s foundation closed a gap in cooperative lending
- Important partner to German cooperative banks
- Today, DZ HYP is one of the leading real estate banks in Germany
DZ HYP celebrated its 100th anniversary on 11 May 2021, with a ceremony in the Recital Hall of the Elbphilharmonie concert hall in Hamburg. Clients, business partners, long-time companions and the Bank's employees took part in the festivities – virtually. In addition to Uwe Fröhlich, Chairman of the Supervisory Board of DZ HYP, and Chief Executive Officer Dr Georg Reutter, one of the speakers at the event was Dr Peter Tschentscher, the city’s First Mayor. Olaf Scholz, German Federal Minister of Finance and Vice Chancellor, delivered the keynote address via video conference.
DZ HYP was founded in Berlin on 11 May 1921, as Deutsche Genossenschafts-Hypothekenbank, by Preussenkasse, the predecessor of today’s DZ BANK. The aim was to close a gap in cooperative lending. In 1949, the Bank established a branch office in Hamburg. In the beginning, the Bank’s main focus was on real estate loans for agricultural enterprises. Later, operations were significantly driven by state-subsidised residential construction and loans to local authorities. As the prosperity of the German population increased, so did the importance of private construction financing. In 2001, DZ BANK’s commercial real estate business was transferred to DZ HYP. In 2008, the Bank realigned its business model as a commercial real estate bank. Following the merger with WL BANK in 2018, DZ HYP operates successfully in three business segments: Corporate Clients, Retail Customers and the Public Sector.