DZ HYP publishes half-yearly financial report 2023
Stable economic situation, featuring lower levels of new business
DZ HYP looks back on a challenging first half-year 2023. The previous year’s turnaround of the macroeconomic environment continued to impact upon the German economy. In this environment, activity on the real estate markets declined. Whilst current market uncertainty and lower transaction volumes were reflected in DZ HYP’s new business, the Bank’s economic situation was stable during the first half of 2023, thanks to consistent implementation of its business and risk strategy. DZ HYP posted €44.0 million in profit after taxes in the period under review, exceeding the previous year’s figure for the same period of €37.0 million.
The Bank's total new business of €3.6 billion for the first six months of 2023 was lower than in the same period of the previous year, as expected. Real estate finance accounted for some €3.4 billion of the total figure. At around €1.5 billion, joint corporate lending business with German cooperative banks was in line with the very satisfactory levels seen in the same period of the previous year.
DZ HYP’s financial performance reflects the Bank’s successful operating performance over recent years. At €366.9 million, net interest income was €31.5 million higher than the figure achieved during the same period of the previous year. At the same time, administrative expenses were down €20.9 million, to €155.8 million.
Detailed information on DZ HYP’s development can be found in the half-yearly financial report 2023.