New legislation aimed at broadening overseas business opportunities will boost property financing operations, according to Karsten von Köller, chairman of the association of German mortgage banks.
Last year, foreign loans accounted for one-fifth of new business, out of a total of €55bn (DM107.6bn) of new loans. The outlook is good for the coming year if it is able to maintain this level of business.
However, the legislation it not likely to be implemented before the beginning of 2002.
Frankfurter Allgemeine Zeitung, 22 March 2000, page 31
Suddeutsche Zeitung, 22 March 2000, page 31
