Natixis plans to open a German “Pfandbriefbank”
Natixis is planning to establish its own mortgagebank (Pfandbriefbank) in Germany, located in Frankfurt.
A corresponding application has been already sent to the German regulator (BAFin). The new bank is to be known as “Natixis Pfandbriefbank AG” and will be 100% owned by Natixis S.A., Paris.
The main activity of this newly established mortgagebank will be the financing of European commercial real estate transactions, with a geographical focus on Germany and France. The eligible part of the business will be refinanced through the issuance of covered bonds backed by mortgages (Hypothekenpfandbriefe).
Henning Rasche and Ralf Wittenbrink are the designated board members of the new bank. Both have many years experience in capital markets and have been board members of German mortgagebanks in the past. Henning Rasche was chairman of the association of German mortgagebanks (VDP – Verband deutscher Pfandbriefbanken) until mid-2010.
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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