11/07/2007
Corporates expanding its business
The Corporates segment has posted very good earnings for the first nine months. Adjusted for last year’s higher income from the sale of equity holdings, operating profit went up substantially. Net commission income grew at an exceptionally strong pace, with interest income putting on a good performance as well. At EUR 352 million, earnings on September 30, 2007 were at the pre-year level on an unadjusted basis
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HSH Nordbank defies financial crisis
HSH Nordbank boosted its consolidated earnings to a new record level in the first nine months of 2007. Earnings before risk provisioning rose 18 percent to nearly EUR 1.1 billion. The reasons for this strong growth were above all significantly higher interest income and a disproportionately small increase in costs. Despite the strains of the financial crisis and greater contingency reserves, pre-tax consolidated earnings rose by 14 percent to EUR 772 million.
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HSH Nordbank: good earnings posted by the Real Estate division
HSH Nordbank’s Real Estate division improved its operating earnings after risk provisioning by 5.5 per cent to EUR 193 million (previous year: EUR 182.5 million) in the first nine months of 2007. This positive result was also attributable to lower risk provisioning, which went down significantly on the previous year, from EUR 67 million to EUR 43.6 million. Net interest income rose by just under 4 per cent to EUR 267 million (previous year: EUR 258 million). Commission income dropped from the previous year's high level of EUR 111 million to just under EUR 100 million. Return on equity decreased slightly from 18.8 to 18.6 per cent compared to the same period of last year.
read more11/07/2007
Global Transportation posting further gains
HSH Nordbank significantly increased operating profit after risk provisioning in its core Shipping and Transportation segments after the first nine months of 2007. Totaling EUR 362 million, earnings were up more than 43 percent on last year’s figure of EUR 254 million. The entire segment under the Global Transportation Markets umbrella benefited from the sustained upward momentum in the international shipping and transportation business. The segment’s ROE rose to 22.3 percent, equivalent to a year-on-year increase of 3.3 percentage points.
read more11/07/2007
HSH Nordbank is awarded major seal of approval by BaFin
HSH Nordbank’s risk-management systems meet the heavy demands set out in the new EU equity rules. The so-called IRB Advanced Approach pursuant to Basle II will be officially introduced on January 1, 2008, but the Bank’s internal processes already comply with this demanding set of rules.
read more10/08/2007
Investment Volume Soars on Russia’s Real Estate Market
Investment volumes on Russia’s commercial real estate markets have perked up sharply in 2007, too. By the end of the year, the total investment volume is likely to top US Dollar 4.5 billion. This translates into a 41 percent increase compared to last year’s figure of US Dollar 3.2 billion. The growth manifests itself on the office market as well as on the retail and logistics property markets. In addition to the traditionally favoured locations of Moscow and St. Petersburg, other major cities with populations of more than a million are moving increasingly into the focus of investors. These are the findings of the survey “Real Estate Market Russia - More Opportunities than Risks?” that was just published by HSH Nordbank.
read more10/01/2007
HSH Nordbank wins out on Airport-Financing
HSH Nordbank AG has been awarded a contract by the Russian Airport Sheremetyevo to finance the expansion and reconstruction of Terminal 2. The 12-year loan facility is worth a total of USD 222 million and more than 20 Russian and international banks showed high interest in the financing of this project. This order to take the role of Mandated Lead Arranger for the financing structure means that the Bank is able to further improve its position in the Russian market.
read more09/28/2007
HSH Nordbank finances another portfolio acquisition by UBS in the Netherlands
HSH Nordbank AG has provided financing in a total volume of Euro 56.5 million for UBS towards the acquisition and re-development of a portfolio consisting of four office buildings in the Netherlands. Following the acquisition, the intention is to restructure the four properties – located in Hoofddorp, Utrecht, Arnhem and Schiphol-Rijk – in order to tap into existing value-increase potentials. The project initiator is UBS (Lux) Euro Value Added Real Estate Fund, managed by UBS.
read more09/28/2007
HSH Nordbank to finance rail link to Brussels airport
HSH Nordbank will finance the railway link from Brussels airport to the Belgian long-haul rail network. The project known as Diabolo is among Belgium’s most important infrastructure measures. The total project volume of EUR 370 million contains costs about EUR 290 million for the construction that is to be completed by 2012. HSH Nordbank will finance construction of two partially subterranean rail lines, of about three kilometers length. This will connect Brussels’ main airport to the likewise still to be completed new rail link between Schaerbeek and Mechelen in the middle of the motorway E19. The airport will thus be hooked up to the significant Paris-Brussels-Antwerp axis.
read more09/20/2007
HSH Nordbank Finances GWB Immobilien
HSH Nordbank AG has made available financing in a total volume of Euro 39 million for the construction of the Postgalerie mall in Speyer, Germany. The latter is a GWB Immobilien project development for a new shopping centre in downtown Speyer, a town located on the left bank of the Rhine.
read more09/11/2007
Joint venture of Pirelli RE and Calyon buys loan portfolio from HSH Nordbank
HSH Nordbank has sold a loan portfolio with a nominal volume of EUR 69 million to a joint venture of Pirelli RE (33 %) and Calyon (67 %). It consists of 36 called loans, which are collateralized by leased commercial properties and residential buildings. This sale is a so-called true-sale transaction in which loans that have already been called are sold to the buyer together with the collateral and the latter takes over future processing. The parties agreed not to disclose the purchase price. This sale will enable HSH Nordbank to reverse impairment charges.
read more09/06/2007
Moody’s gives top rating to ship Pfandbrief
HSH Nordbank is the first bank in the world to receive a provisional Aaa and thus the highest possible rating for its ship-cover pool from the Moody’s rating agency. The size of the cover pool, which will still be significantly increased in the years ahead, is currently about EUR 2.5 billion. It includes primarily container vessels, but also tankers and bulk-cargo freighters. In its rating statement, Moody’s pointed to HSH Nordbank’s expertise as a long-standing lender to the shipping industry.
read more08/23/2007
HSH Nordbank with strong earnings growth in the real estate sector
In the first half of 2007, HSH Nordbank AG’s real estate segment generated operating profit after risk provisions of EUR 145 million, an increase of 27 percent over the same period one year earlier. Net interest and commission income rose 7 percent to EUR 250 million in the same period despite the difficult conditions underlying the market. At just under EUR 13 million, risk provisions dropped to an encouragingly low level (previous year: EUR 42 million). The pre-tax return on equity widened appreciably from 18.2 percent to 22.3 percent.
read more08/23/2007
HSH Nordbank steers a successful course
In the first half of 2007, HSH Nordbank Group again surpassed the previous year’s strong results. Operating profit after risk provisions grew by more than 10% to EUR 521 million; this impressive performance was attributable to very good net trading income, lower credit risk provisioning and proceeds from the sale of equity holdings.
read more08/23/2007
Shipping and Transportation units reporting substantial gains
HSH Nordbank is for the first time releasing the results of its new Global Transportation Markets segment, which was set up at the start of the year. The combined Shipping and Transportation units reported an operating profit after risk provisions totaling EUR 228 million. In the same period last year it reported EUR 166 million, which corresponds to an increase of 37.1 percent. The return on equity rose from 18.8 to 22.1 percent.
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