The volume of transactions processed on the Europace platform increased slightly in the second quarter 2009. Shifts in the activities of individual product providers were one of the main reasons for curbed growth.
The volume of financing transactions processed on Europace increased again in the second quarter 2009, albeit by only a slight margin.
Compared with the previous quarter, the total volume increased by 1% to 3.12 billion. Some of the providers offering their products on Europace were no longer quoting competitive terms in the first quarter. At the same time, Hypoport was able to acquire new product providers for the platform. Whilst these new product providers were establishing themselves at the start of the summer season, a previous supplier ceased its financing activities.
According to Prof. Dr. Thomas Kretschmar, co-CEO of Hypoport: "In light of these market-related changes in the structure of our product providers, we are very satisfied with the result".
Both mortgage and personal loans witnessed slight increases compared with the previous quarter's result. Mortgage loans with a total volume of 2.814 billion were processed on the platform in the quarter just ended. This volume equates, again, to an increase of 1%.
Personal loans increased to a similar extent and reached a new record level of 306 million. Added to which, the (cumulative) volume of transactions processed on Genopace, the platform operated jointly with the cooperative banking sector, topped the 300 million mark just one year after being launched in April 2008.
Source: Hypoport AG