Following the split of DePfa Group into an organization comprising public finance and property operations, the Property Bank, previously known as DePfa Bank AG, will trade under a new name: Aareal Bank AG.
Both the logo and corporate design will remain unchanged. Aar (which stands for eagle in old German) symbolizes the link between logo and modern real estate or property specialist. The Public Finance Bank will trade under DePfa Bank plc.
The business model of the Property Bank, with approximately 2,000 employees and pro-forma volume of business exceeding Euro 40bn, differs considerably from that of traditional mortgage banks. Aareal Bank has distanced itself specifically from the operations of a pure commercial bank with lending activities which follow a traditional buy and hold strategy, preferring instead to pursue the role of property specialist active in international markets. Property asset management and property-related services - consulting and IT services in particular â€“ are deemed equally as important as lending.
Karl-Heinz Glauner, Chairman of the Board of Managing Directors of the future Aareal Bank stressed: 'We do not adhere to the role model of a commercial bank focused on balance sheet growth. Securitisation and syndication also play a central role. Furthermore, we are not a mortgage bank; the range of products and services provided to clients by our three sectors are by far more extensive. We will continue to invest our energies in the transition to international property specialist. The new name should represent to the world that we are a new innovative bank facing the challenges presented by the market and focusing on the requirements of client, shareholder and employee alike.'
(source: Depfa Bank)