July 29, 2014 6:01 PM ET

Thrifts and Mortgage Finance

Company Overview of Corealcredit Bank AG

Company Overview

COREALCREDIT BANK AG, a specialist German bank, focuses on commercial real estate financing for professional real estate investors in Germany. It provides capital market-oriented financing solutions for buildings, real estate portfolios, and development projects. The company also offers financial, investment, and transaction advisory services to support investment activities; and online deposits to private customers under COREALDIRECT brand name. The company is headquartered in Frankfurt am Main, Germany. As of March 31, 2014, Corealcredit Bank AG operates as a subsidiary of Aareal Bank AG.

Corealcredit Haus

Grüneburgweg 58-62

Frankfurt am Main,  60322

Germany

162 Employees

Phone:

49 69 71 79 0

Fax:

49 69 71 79 100

Key Executives for Corealcredit Bank AG

Chairman of Management Board and Chief Financial Officer
Member of Management Board
Age: 51
Member of Management Board
Member of Management Board
Compensation as of Fiscal Year 2014.

Corealcredit Bank AG Key Developments

Corealcredit Bank AG to Report Fiscal Year 2013 Final Results on Jun 06, 2014

Corealcredit Bank AG announced that they will report fiscal year 2013 final results on Jun 06, 2014

Corealcredit Bank AG Announces Executive Changes

The newly elected Board of COREALCREDIT BANK AG has appointed Dr. Reinhard Grzesik April 01, 2014 appointed Chairman of the Board of COREALCREDIT BANK AG. He succeeds Dr. Claus Nolting after which the bank with effect from March31. Furthermore, the Supervisory Friedhelm Bullerdieck appointed as an ordinary member of the Executive Board. Dr. Grzesik, worked including Chief Financial Officer for the DEPFA German Pfandbrief Bank AG in Wiesbaden and until April 2007 for the DEPFA Bank plc in Dublin. Friedhelm Bullerdieck of his new function also April 01, 2014. He was also a member of the Management Board of HVB Immobilien AG and in other senior positions in the Bavarian Mortgage and Exchange Bank, later HypoVereinsbank, works. Most recently, he headed 'Friedhelm Bullerdieck Real Estate Management'.

Corealcredit Bank AG Reports Earnings Results for the Year Ended December 31, 2013

Corealcredit Bank AG reported earnings results for the year ended December 31, 2013. For the year, the bank reported net interest, commission and participating income rose to EUR 111.8 million compared to EUR 63.2 million a year ago. This was mainly due to extraordinary earnings from the general consolidation of the derivate portfolio by downsizing interest currency swaps. The other net operating loss of EUR 23.3 million largely influenced by provisioning of reserves for interest in connection with a ruling handed down by a first-level court in a procedure involving profit participation certificates that is not legally binding and back payments on interest to the fiscal authorities for previous assessment periods. Result before tax was EUR 30.3 million against EUR 1.7 million a year ago. Net profit after tax was EUR 4.6 million against EUR 4.7 million a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 22, 2013
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