Press Information

21.08.2007

Aareal Bank awarded merchant banking licence in Singapore

  • Important step for further growth in Asia/Pacific
  • Consistent implementation of regional hub strategy

Wiesbaden, 21 August 2007 – Aareal Bank Asia Limited, the Asian subsidiary of Aareal Bank AG (formerly Aareal Financial Services, Singapore), was granted a merchant banking licence by the Monetary Authority of Singapore (MAS) with effect from 15 August 2007. The authority approved the appointments of Juergen Hetzler as CEO and Tan Yo-Hann as Deputy CEO of Aareal Bank Asia Limited.

This step represents another milestone in Aareal Bank's successful expansion in Asia/Pacific. In 2004 Aareal Bank opened already an office in Singapore to provide advisory services, primarily to the hotel investment community in the region. As part of Aareal Bank's sales operations realignment, Singapore will be expanded as the bank's hub for the Asia/Pacific region.

"Singapore is located at the core of the Asian/Pacific market, where it serves as an important economic center for that region. Operating from there, we can implement our local expertise and offer investors even more direct access to the Asian/Pacific real estate markets. We are forecasting aggregate new business of around Euros 500 million in Asia/Pacific in the current year" stated Juergen Hetzler, CEO of Aareal Bank Asia Limited.

Norbert Kickum, member of the Management Board of Aareal Bank AG, added "The banking licence in Singapore allows us to consistently pursue our Asian/Pacific strategy. The first signs of success are already evident in the development of a strong client base. We are also reviewing the establishment of new offices and the possibility of exploring new markets. In addition to planning an office in Shanghai, we are analysing the option to further expand our activities into the Indian, Malaysian and Korean markets."

Aareal Bank

Aareal Bank AG is one of the leading international specialist property banks. The Aareal Bank share is included in Deutsche Börse's mid-cap MDAX index. Leveraging its successful European business model, Aareal Bank is active on three continents, having established similar platforms in North America and in the Asia-Pacific region. It provides property financing solutions in more than 25 countries.

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