Münchener Hypothekenbank eG (, shortened as MünchenerHyp or MHB) is a mortgage bank under the legal form of a registered cooperative (). The shareholders of MünchenerHyp are other cooperative banks and approximately 60,000 cooperative customers. MünchenerHyp is a member of the

Verband deutscher Pfandbriefbanken The Association of German Pfandbrief Banks (), abbreviated vdp, is the interest group of German banks which issue a form of property-backed covered bond known as Pfandbrief. vdp member institutions are also engaged in ship and aircraft finance. Th ...

, of the

Bundesverband der Deutschen Volksbanken und Raiffeisenbanken The National Association of German Cooperative Banks (, BVR) is the umbrella association for the German Cooperative Financial Group. Its origins go back to 1864 as . As of 2015 it had 1,021 members, which represents all the cooperative banks i ...

(BVR) and of the . It has been designated as a Significant Institution since the entry into force of

European Banking Supervision European Banking Supervision, also known as the Single Supervisory Mechanism (SSM), is the policy framework for the prudential supervision of banks in the euro area. It is centered on the European Central Bank (ECB), whose supervisory arm is re ...

in late 2014, and as a consequence is directly supervised by the

European Central Bank The European Central Bank (ECB) is the central component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International ...

Overview

The company was founded on December 2, 1896, as the Bavarian Agricultural Bank () and was supported by the cooperative sector and the then Royal Bavarian state government under

Prince Regent Luitpold Luitpold Karl Joseph Wilhelm Ludwig, Prince Regent of Bavaria (12 March 1821 – 12 December 1912), was the ''de facto'' ruler of Bavaria from 1886 to 1912, as regent for his nephews, King Ludwig II and King Otto. His regency arose due to his n ...

. The Bavarian state granted non-interest-bearing capital of one million gold marks and an interest-bearing operating advance of one million gold marks as start-up capital. The was originally involved in the agricultural sector, but after the end of

World War I World War I or the First World War (28 July 1914 – 11 November 1918), also known as the Great War, was a World war, global conflict between two coalitions: the Allies of World War I, Allies (or Entente) and the Central Powers. Fighting to ...

it gradually expanded its business areas to become a generalist mortgage bank. In 1971 the company was therefore renamed and took its current name. The Münchener Hypothekenbank has a link to the

House of Wittelsbach The House of Wittelsbach () is a former Bavarian dynasty, with branches that have ruled over territories including the Electorate of Bavaria, the Electoral Palatinate, the Electorate of Cologne, County of Holland, Holland, County of Zeeland, ...

. In 1897, Prince Regent Luitpold allowed the bank to use the Bavarian royal crown in its seal. Until 2011,

Max Emanuel Maximilian II (11 July 1662 – 26 February 1726), also known as Max Emanuel or Maximilian Emanuel, was a Wittelsbach ruler of Bavaria and a prince-elector of the Holy Roman Empire. He was also the last governor of the Spanish Netherlands and Duke ...

, a member of the house, was deputy chairman of the bank's supervisory board. It is one of the largest cooperative banks by number of members, and one of the few independent "

Pfandbrief The Pfandbrief (plural: Pfandbriefe), a mostly triple-A rated German bank debenture, has become the blueprint of many covered bond models in Europe and beyond. The Pfandbrief is collateralized by long-term assets such as property mortgages or pu ...

banks" in Germany.

Notes

1896 establishments in Germany Banks established in 1896 Banks under direct supervision of the European Central Bank Cooperative banks of Germany {{bank-stub

Overview

See also

Notes