HYPOVEREINSBANK PROVIDES €2.5 BILLION BOOST FOR BUSINESS
Wednesday 15 July 2020
As a leading provider of promotional loans in Germany, HypoVereinsbank has approved loans worth €2.5 billion for more than 2,500 German companies to help them manage the impact of Covid-19 #PartOfTheSolution
HypoVereinsbank has continued to demonstrate its support for companies in Germany affected by the Covid-19 pandemic showing once again that it is #PartOfTheSolution. Since the announcement of the state aid measures in mid-March 2020, it has approved promotional loans to 2,500 companies with a total value of 2.5 billion euros. The bank’s large team of promotional loan specialists who are very familiar with the promotional programmes of KfW and the development banks of the federal states was further strengthened during the crisis by assigning start-up and succession specialists to the processing of the aid programmes as well. Thanks to its already strong position in the German development loan business, HypoVereinsbank’s market share of these promotional loans is 1.5 times its market share of traditional corporate loans.
Markus Beumer, Head of Commercial Banking – Unternehmer Bank, at HypoVereinsbank, says, “as a reliable and well-established partner of the German Mittelstand, we are right by our customers’ side, supporting them with our financing and structuring know-how – especially in this challenging situation. We prepared ourselves early on for a high demand for the promotional loans, and have continuously informed our customers about new programmes and changes via personal talks and calls with experts. This enabled us to fully support them through the crisis and quickly provide them with needed liquidity. We continue to work with full dedication to our customers to support them in moving forward from the crisis as quickly as possible.”