Hamburg Commercial Bank finances a project development of a commercial and industrial property in Grimma for Hines
Hamburg Commercial Bank AG (HCOB) is providing the HEREP III real estate fund initiated by international real estate company Hines with financing in the high double-digit million euro range. The funds will be used for the purchase of a 284,000 square meter plot of land and the construction of a total of 115,000 square meters of commercial and industrial real estate in Grimma. The future commercial and industrial park consists of two construction phases, each with six separate rental areas. The building will meet the latest energy standards and the aim is to achieve DGNB Platinum certification (DGNB: German Sustainable Building Council). Construction of the new center is scheduled to begin in the second quarter of 2024 and the facility is expected to be completed by the end of 2025.
Preliminary result 2023: Hamburg Commercial Bank continues strong track record with pre-tax profit of EUR 427 million
Hamburg Commercial Bank AG (HCOB) presented its preliminary figures for the 2023 financial year on Thursday. With net income before taxes of EUR 427 (363) million, up 18% on the previous year, the bank continues its strong track record. The robust pre-tax result was mainly due to a further noticeable increase in operating income, solid new business and stringent cost management. Thanks to high recurring earnings and prudent risk provisioning policy, HCOB clearly surpassed the previous year’s pre-tax result and earnings forecast (around EUR 350 million), and this despite a difficult macroeconomic environment featuring geopolitical uncertainties and challenging developments on the real estate markets in the wake of higher interest rates. HCOB’s capital and liquidity positions remained at a high level.
Ulrik Lackschewitz appointed interim CEO of Hamburg Commercial Bank
The Supervisory Board of Hamburg Commercial Bank (HCOB) appoints Ulrik Lackschewitz as Chief Executive Officer on an interim basis as from April 1, 2024. This was announced by the Supervisory Board of HCOB on Thursday. Ulrik Lackschewitz, currently Chief Risk Officer (CRO) and Deputy Chief Executive Officer (CEO) of HCOB, succeeds Ian Banwell, who, as already communicated, has not extended his contract as CEO beyond March 31, 2024, for personal reasons. In addition, the Supervisory Board has appointed Marc Ziegner, Chief Financial Officer (CFO) of HCOB, as Deputy CEO on an interim basis with effect from April 1, 2024.
Hamburg Commercial Bank finances acquisition of retail property portfolio for Centerscape
Hamburg Commercial Bank AG (HCOB) is providing Centerscape Deutschland GmbH & Co. KG (“Centerscape”) with acquisition financing for a portfolio totalling EUR 30 million.
Hamburg Commercial Bank closes first transaction in the Global Aviation Sector
Hamburg Commercial Bank (HCOB) is pleased to announce the successful closing of its first aviation transaction with a US$70 million commitment in a US$337 million limited recourse syndicated portfolio financing for a US-based lessor of mid-life aircraft and engines.
Hamburg Commercial Bank issues € 500 million Ship Pfandbrief
Hamburg Commercial Bank (HCOB) very successfully placed a Ship Pfandbrief with a volume of EUR 500 million in capital markets on Tuesday, thus continuing its regular issuing activities.
Hamburg Commercial Bank participates in syndicated financing for the acquisition of Liquin (formerly VRB) by Infracapital
Hamburg Commercial Bank (HCOB) is providing financing as a syndicate partner to European infrastructure investor Infracapital for the acquisition of Liquin. Liquin, which operated under the name Vopak Rotterdam Botlek (VRB) until 1 December 2023, specializes in chemical storage and storage infrastructure solutions in the Netherlands.
Hamburg Commercial Bank analyses the opportunities and risks of Decentralized Finance (DeFi) in a study
Decentralized finance models are based on the idea that services provided by banks, asset managers or stock exchanges, for example, can be mapped using code programmed on a blockchain. These business models make it possible to carry out financial transactions directly – i.e. without intermediaries – and therefore particularly cost-efficiently and quickly.
New export index for Germany from Hamburg Commercial Bank and S&P Global
Hamburg Commercial Bank (HCOB) has developed a new index for export prospects in Germany in collaboration with S&P Global.
Inclusive exhibition project
The interactive installation WIR! Worlds in Resonance, sponsored by the art foundation of Hamburg Commercial Bank (HCOB) for Schleswig-Holstein, has been completed and can be viewed in Kiel in the Coworkhaus and in the Medical and Pharmaceutical History Collection. The two artists Chili Seitz and Ute Diez – who work together as büro für nichtlineares denken – have developed two interactive installations together with people with disabilities. The installations were developed in five workshops moderated by Silke Adam, who was a specialist for barrier-free communication at the Drachensee Foundation during the project period. The works are entitled: Kuckuck, so haben wir noch nie gelacht“ (“Cuckoo, we've never laughed like this before) und „So haben wir noch nie gedacht“ (We've never thought like this before). The work was curated by Gesa Kobs from the German Inclusion Center. The objects react to each other – they enable resonance.