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27.01.14 08:55 Dow Jones Newswires

PRESS RELEASE: Hypoport AG: EUROPACE generated its first-ever transaction volume in excess of EUR30 billion in 2013.

DGAP-News: Hypoport AG / Key word(s): Quarter Results Hypoport AG: EUROPACE generated its first-ever transaction volume in excess of EUR30 billion in 2013.

27.01.2014 / 08:55

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Volume of transactions in 2013

Berlin, 27 January 2014: The total volume of transactions processed on the EUROPACE financial marketplace in 2013 grew by roughly 9 per cent year on year to EUR31.6 billion. Personal loans, which constitute the smallest product segment, achieved the strongest growth in relative terms (22 per cent). Building finance increased by 13 per cent, underlining the substantial appeal of this product. Mortgage finance, which grew by 7 per cent year on year, once again made the largest contribution to the total volume of transactions in absolute terms. The number of EUROPACE partners rose by roughly 22 per cent over the same period.

'This transaction volume of more than EUR30 billion demonstrates the considerable influence that the EUROPACE financial marketplace and its partners now exert over the German mortgage finance market,' commented Thilo Wiegand, Chief Executive Officer of Europace AG. 'The continued low level of interest rates, our optimised sales processes, and the fact that the number of our partners has risen from 200 to its current level of almost 250 contractual partners have all contributed to this result on an annualised basis.' The latest figures published by the Bundesbank show that the German mortgage finance market overall grew only modestly in 2013. The rising numbers of transactions generated on EUROPACE therefore resulted from the increasing automation of business processes in Germany. The pressure for change triggered by Basel III and Solvency II is considerably enhancing the appeal of a flexible marketplace solution for more and more banks and financial institutions.

Tougher market conditions in the fourth quarter of 2013 meant that EUROPACE's strong performance for the year as a whole was slightly dented in the final three months. Following impressive results in the second and third quarters, the marketplace's growth in mortgage finance products was weaker than in previous quarters owing to persistently sluggish interest rates.

The product segments in detail

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PRESS RELEASE: Hypoport AG: EUROPACE generated its first-ever transaction volume in excess of EUR30 billion in 2013.