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MLP completes separation of banking and brokerage business as planned

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Frank Heinemann
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  • Entry into the Commercial Register completed
  • Regulated banking business will be run by the new MLP Banking AG, brokerage business will be handled by the new MLP Finanzberatung SE
  • MLP Banking AG will also broker real estate financing through Interhyp/Prohyp in the future
  • New Group structure offers the basis for further cooperations

Wiesloch, December 1, 2017 – With yesterday's entry in the Commercial Register, the realignment of the Group structure formally took effect: with immediate effect, the regulated banking business will be run by the new MLP Banking AG, while brokerage business will be handled by the also new MLP Finanzberatung SE. With the realigned Group structure, MLP will leverage EUR 75 million of free regulatory equity capital by 2021. Furthermore, the new Group structure offers the potential for strategic cooperations.

In a first step, mortgage loans from MLP Banking AG will also be offered by brokers from Interhyp/Prohyp.

"The cooperation is a first and important step for us in order to tap new business units with our banking portfolio," comments Reinhard Loose, Chief Financial Officer at MLP SE.