
The companies grouped below the holding's umbrella are legally and operatively separate from each other. The business goals they pursue, however, are coordinated inside the Group. Deutsche Pfandbriefbank AG, with registered offices in Munich, was formed in mid-2009 by the merger of Hypo Real Estate Bank AG and DEPFA Deutsche Pfandbriefbank AG. Deutsche Pfandbriefbank AG is a core strategic bank where strategic assets are centralised and new real estate and public finance business is transacted. DEPFA Bank is a member of Hypo Real Estate Group since 2 October 2007.
