Announcement of the supervisory board
At a meeting on 26 August 2020, the Supervisory Board at Hamburg Commercial AG agreed to grant the request made by Management Board Member Oliver Gatzke (CFO and CTO) to leave his post, effective as of 31 August 2020. Mr Gatzke leaves the Board on the best of terms.
HCOB at half year with solid result, strong capital position and success in transformation
Hamburg Commercial Bank AG (HCOB) generated a net income before taxes of EUR 71 (prior-year period: 96) million in the first half year and has further expanded its already very solid capital ratio to 21.7% (31/12/2019: 18.5).
Head of Communications at Hamburg Commercial Bank switches to consulting role
Hamburg Commercial Bank AG (HCOB) continues to streamline its structure as part of its multi-year transformation.
HCOB with strong capital position and positive result in 2019, its first year of transformation
For Hamburg Commercial Bank AG (HCOB), 2019 was a year marked by its successful, multi-year transformation into a well-capitalized and profitable bank that, as a provider of specialized finance with strict return and income targets, generated a satisfactory result in a tough economic setting.
2019 preliminary result: HCOB’s transformation bearing fruit
Hamburg Commercial Bank AG (HCOB) has used the first year following its successful privatization for its sustainable realignment and is, based on preliminary calculations for 2019, showing solid financials and a pre-tax profit (IFRS) of € 77 (2018: 97) million. This satisfactory result is due, among other factors, to a consistent focus on new business with adequate margins, significantly lower funding costs and structural progress in reducing costs.
Hamburg Commercial Bank participates in the refinancing of Ark Data Centre near London
Hamburg Commercial Bank (HCOB) is one of eleven banks to participate in the 450 million pound refinancing for Ark Data Centre in the UK and belongs to the group of four lenders financing the largest portions of the transaction.
Hamburg Commercial Bank finances acquisition of ‘Jahrhunderthalle’ and conversion into Science Park
HAMBURG - Hamburg Commercial Bank (HCOB) provides Kadans Science Partner, a member of the Oaktree Capital Group, with the funds to purchase the ‘Jahrhunderthalle’ in Aachen and convert the site into a Science Park. The financing sum amounts slightly below EUR 56.7 million, with a term of around five years.
Hamburg Commercial Bank generates pre-tax profit of € 96m in the first half of 2019
Hamburg Commercial Bank AG (HCOB) generated a satisfactory result in the first half of 2019 and made clear progress in the initial months following privatization on the way towards becoming a successful commercial bank. Resolute portfolio management in its operating business, strict cost discipline as well as significantly better funding after privatization and also income from non-operating activity, contributed to the generally solid result.
Thomas Jakob to head Hamburg Commercial Bank's corporate client business as of 2020
Hamburg Commercial Bank AG (HCOB) is further strengthening its nationwide corporate client business: Thomas Jakob will be responsible for all corporate banking and advisory activities from January 2020.
Hamburg Commercial Bank finances purchase of properties in “Kölnisch Quartier”
Hamburg Commercial Bank is providing the Swiss East Guardian Asset Management AG with EUR 95 million for the purchase of two commercial properties in Cologne. The parties have agreed not to disclose the purchase price.