Hypoport AG

EANS-News: Hypoport AG
Transaction volume Q3 2010: EUROPACE grows by almost a billion

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Berlin, 6 October 2010 (euro adhoc) - The volume of transactions generated by the Europace platform in the third quarter of 2010 grew by EUR900 million compared with the corresponding period of 2009. The Company managed to achieve this impressive result by winning market share, successfully implementing its new underlying technology and benefiting from benign market conditions. It will underpin this encouraging trend by introducing further measures over the coming quarters.

Growing by 24.9 per cent compared with the third quarter of 2009, the volume of transactions generated by the Europace financial marketplace in the third quarter of 2010 comfortably exceeded the record figure it had achieved in the second quarter of this year. "We too are highly impressed by the total transaction volume of EUR4.483 billion that we are reporting for the third quarter of 2010", was how Thilo Wiegand, a member of Hypoport AG's Management Board, commented on this result. By broadly positioning its Europace technology across all segments of the banking industry, Hypoport AG was able to win market share. Wiegand pointed out that the Company had managed to generate significant business from the markets of regional institutions with which it had forged partnerships. He also stressed that Hypoport's new underlying technology provided customers with a wider range of products and services because the alternative offerings available now enabled it to customise its products so as to meet all of its clients' individual needs.

Hypoport's mortgage finance business in the third quarter of 2010 grew by 22 per cent year on year for the aforementioned reasons. Wiegand noted that market conditions had also played their part in the Company's strong performance: "Following an excellent start to the third quarter, a slight rise in interest rates towards the end of the period gave an additional boost to the turnover generated on the platform in September". Building finance products contributed EUR312 million of the transaction volume generated during the reporting period. This business had grown significantly since its introduction on the platform and consolidated at a high level at the beginning of the third quarter of 2010. Initial indications towards the end of the period suggested, however, that this business was starting to generate modest growth again. The volume of transactions generated by personal loans in the third quarter of 2010 fell by 23.1 per cent compared to the third quarter of 2009 to approximately EUR265 million. The business volumes achieved by this segment were in line with the market as a whole, and Europace was unable to decouple itself from this trend in the short term.

Ronald Slabke, the chief executive officer of Hypoport AG, reckons that Europace will continue to generate strong growth over the next few quarters. "We will extend the successful new functionality of our mortgage finance business to our personal lending operations. What's more, the growing number of suppliers will constantly expand the range of products and services available to our customers and further increase the transaction volumes generated in this business", stressed Slabke. He expects the number of product suppliers to have risen to around 100 by the end of this year. The Company is also engaged in intensive discussions with several attractive partners on the use of additional services around its platform.

end of announcement                               euro adhoc

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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