DZ HYP publishes half-yearly financial report 2022
In the first half of 2022, the economic environment was challenging, especially in view of the war in Ukraine, persistent supply chain problems, high energy prices and concerns about a lack of gas supplies from Russia. In the wake of rising capital market yields, interest rates on construction finance have risen considerably since the start of the year. Against this backdrop, the real estate markets experienced more restrained growth. Even though transaction volumes were marginally higher year-on-year during the period under review, momentum has slowed noticeably since the spring. The impact was also felt in residential real estate markets.
Despite the numerous current challenges, DZ HYP's new business remained stable during the period under review, coming in at €5.2 billion, only slightly below the €5.4 billion figure seen in the first half of 2021. Business with corporate clients performed well: the Bank originated almost €4 billion, surpassing the comparable figure of €3.7 billion for the same period last year. Joint business with cooperative banks totalled €1.5 billion and new commitment volume in the retail business was around €1.1 billion. Roughly three-quarters of business with public-sector clients, totalling €160 million, resulted from successful intermediation within the Cooperative Financial Network.
DZ HYP's economic situation is also stable overall. Thanks to strong operational performance, the positive earnings development of recent years continued in the first half of 2022. After accounting for the notional servicing of silent partnership contributions, DZ HYP reported profit after tax of €37 million. A sum of €37 million was also allocated to the fund for general banking risks.
Detailed information on DZ HYP’s development can be found in the half-yearly financial report 2022.