The Group's principal activity is that of a holding company. Through its subsidiaries the Group is mainly involved in real estate financing, capital markets and investment banking. The Group now operates through three main business segments: Hypo Real Estate International (HREI) which covers the international business; Hypo Real Estate Germany (HREGe) which is responsible for the German real estate financing business; Hypo Public Finance Bank (HPFB) which is responsible for the public finance business (includes state lending, infrastructure financing, municipal project financing and forfeiting) and capital markets business (includes credit derivatives and asset management).
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