DHL 2002 Annual Report Download - page 76

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75
Corporate Divisions
FINANCIAL SERVICES
The deposit business recorded very encouraging development. Savings volumes
were up 10.1% year-on-year to €35.7 billion thanks to new products such as the DAX
Sparbuch and SparCard 3000 plus direkt.
The positive trend that characterized the lending business in 2001 continued in
the year under review: the volume of private loans granted by us rose 26.5% to €937
million. Despite continued weakness in the construction industry, the private building
loans business also recorded strong growth once again. We were able to increase the
volume of residential building loan commitments by 35.0% year-on-year to almost €2.6
billion. Our residential building loan portfolio increased by 14.3% to €15.2 billion.
We also recorded an increase in lending business with our corporate customers.
New lending business totaled €6.3 billion, resulting in an increase in total lending
volume of 4.9% to €20.0 billion in the period under review. Property financing was
once again successful. Our domestic and international commercial finance portfolio
increased to a total volume of €4.7 billion.
All key products for logistics finance have been developed and launched since
2000. Logistics finance and related forms of finance such as leasing and grew
100% to a volume of €800 million in 2002. We won a number of new customers in this
area, including the Lidl & Schwarz group. Our US subsidiary PB Capital Corporation
developed according to plan. This company forms our platform for logistics finance
in North America. At Group level, we are already working closely together with the
logistics units DHL and Danzas. The most recent product of this collaboration is cash
forwarding, a combination of transport and factoring that we developed together
with DHL.
The insurance business, which we began in 1999, also demonstrated encouraging
development. PB Versicherung was able to increase the number of new policies in its
accident segment by 24.8%, and life insurance policies surged 148.9% as a result of
the arrival of the new Riester products. We sold around 109,000 policies for Riester
products by the year’s end and are thus the most successful provider of these products
among the banks.
factoring
Factoring: a financing transaction
in which a financial service
institution (factor) purchases its
customers’ accounts receivable
on a one-time or regular basis.
Postbank at a glance
2001 2002 Change*
in %
Private checking accounts millions 3.75 3.94 5.1
Corporate checking accounts millions 0.37 0.37 2.0
Online banking millions 1.02 1.32 29.0
Telephone banking millions 1.79 2.20 22.7
Brokerage accounts (Postbank Easytrade) millions 0.28 0.45 59.9
Accident insurance thousands 59.6 74.4 24.8
Life insurance thousands 80.5 200.2 148.9
Savings deposits in €bn 32.4 35.7 10.1
Fund assets in €bn 3.4 2.9 -15.0
Private loans in €bn 0.7 0.9 26.5
Building loans in €bn 13.3 15.2 14.3
Corporate customer lending business in €bn 19.0 20.0 4.9
*Percentage change based on unrounded figures