ING Real Estate Finance (ING REF) saw its new commercial real estate business fall 42% to EUR 4 bn in 2009 from EUR 7 bn the previous year, according to PropertyEU's annual survey of the top financiers in Europe. In terms of outstanding volume, however, ING REF still ranks among the top three players in Continental Europe with EUR 35.2 bn. Eurohypo and Deutsche Pfandbriefbank topped the league in 2009 with EUR 75 bn and EUR 44 bn respectively.
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