PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
German Eurohypo sees 2008 earnings dive into loss from Essen Hyp takeover
Germany's largest commercial property lender Eurohypo, part of the Commerzbank group, reported a pre-tax loss of e1.4bn for full year 2008 turning round a profit of e588m as financial market turmoil impacted results, and it was hit by the integration of Essen Hyp. The bank is to re-orientate its strategy this year to position for coming market challenges, and has implemented a complete review of the business model. This will focus on which kind of real estate financing to offer in which markets - and in which organisational form.