Hypoport AG

EANS-News: Hypoport AG
Q2 2010: EUROPACE generates record volume of transactions

The volume of transactions generated by the Europace platform hit a new record in the second quarter of 2010, with all product categories contributing to this result. The customised products developed among others for Postbank also demonstrate that Europace’s technology can be used for a wide variety of applications and continues to achieve widespread market penetration.

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Subtitle: The volume of transactions generated by the Europace platform hit a new record in the second quarter of 2010, with all product categories contributing to this result. The customised products developed among others for Postbank also demonstrate that Europace’s technology can be used for a wide variety of applications and continues to achieve widespread market penetration.

Berlin, 16 July 2010 (euro adhoc) - The volume of transactions generated by the Europace financial marketplace hit a new record of EUR3.951 billion in the second quarter of 2010. All product categories contributed to an increase of 25.1 per cent compared with the corresponding quarter of 2009. The volume of mortgage finance, which still accounts for the largest proportion of total business, grew by 17.1 per cent year on year to EUR3.296 billion in Q2 2010. "The current combination of low interest rates, the greater importance attached to security, and the recently more optimistic outlook is boosting purchases of real estate", was how Thilo Wiegand, one of Hypoport AG´s executive directors, explained the encouraging trend. The second quarter of 2010 was the first time that building finance - the most recent addition to Europace´s product portfolio - has managed to outperform the volume of business generated by personal loans, achieving a total volume of EUR336 million (Q2 2009: EUR38 million) compared with the EUR319 million generated by personal loans (Q2 2009: EUR306 million).

Hypoport is also bullish about the outlook for its business going forward. "On top of the welcome recovery of the intermediary market in Germany we are achieving growing success with our product offerings for German savings banks (Finmas - the financial marketplace for savings banks) and local cooperative banks (Genopace)", added Wiegand. Hypoport is also pursuing new avenues in its quest to acquire established market participants as clients. The first customised web-based distribution solution for Europace will soon be completed. "Over the past 14 months we have been working exclusively with and on behalf of Postbank´s financial advisory team to develop a financing module that caters to the specific needs of a building finance association´s distribution network. This will enable our partners - in this case Postbank and BHW Bausparkasse AG, its building finance association - to operate even more effectively in the highly competitive mortgage finance market", added Ronald Slabke, Hypoport´s CEO. "Large distribution organisations that employ several hundred advisers require customised solutions that dovetail with their specific advisory strategies, product focus and applications environment. The sort of individual solutions available in the past were not connected to a marketplace. By offering web-based distribution solutions that perfectly match our partners´ needs we now aim to extend the benefits of our Europace marketplace to these established market participants", Slabke explained Hypoport´s new product offering.

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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
Index: CDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard

Original-Content von: Hypoport AG, übermittelt durch news aktuell

Weitere Meldungen: Hypoport AG

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