Share

Key Indicators

  1 Jan - 30 Sep 2023 1 Jan - 30 Sep 2022
Results    
Operating profit (€ mn) 155 157
Consolidated net income (€ mn) 104 100
Consolidated net income allocated to
ordinary shareholders (€ mn)1) 
96 89
Cost / income ratio (%)2) 30.9 38.7
Earnings per ordinary share (€)1) 1.61 1.49
RoE before taxes (%)1)3)  6.7 6.7
RoE after taxes (%)1)3)  4.4 4.3

   

  30 Sep 2023 31 Dec 2022
Statement of Financial Position    
Property finance (€ mn) 32,753 30,901
Equity (€ mn) 3,338 3,258
Total assets (€ mn) 49,442 47,331
     
Regulatory Indicators4)    
Basel IV (phase-in)    
     Risk-weighted assets (€ mn) 13,547 12,782
     Common Equity Tier 1 ratio (CET1 ratio) (%) 19.4 19.3
     Tier 1 ratio (T1 ratio) (%) 21.6 21.7
     Total capital ratio (TC ratio) (%) 23.6 24.0
     
Employees 3,315 3,316
     
Ratings    
Moody’s    
Issuer rating A3 A3
Senior Preferred A3 A3
Senior Non Preferred Baa2 -
Bank deposit rating A3 A3
Outlook negative negative
Mortgage Pfandbrief Rating Aaa Aaa
     
Fitch Ratings    
Issuer default rating BBB+ BBB+
Senior Preferred A- A-
Senior Non Preferred BBB+ BBB+
Deposit ratings A- A-
Outlook negative negative
     
Sustainability Ratings5)    
MSCI AA AA
ISS-ESG prime (C+) prime (C+)
CDP Management
Level B
Management
Level B
     
Share price    
XETRA® closing price (€) 33.05 33.06

 

1) The allocation of earnings is based on the assumption that interest payable on the AT1 bond is recognised on an accrual basis.

2) Structured Property Financing segment: in line with common practice in the banking sector, bank levy and contributions to the deposit guarantee scheme are not included.

3) On an annualised basis

4) 31 December 2022: including originally proposed dividend of € 1.60 per share in 2022 and pro rata temporis accrual of the interest on the AT1 bond, excluding profits for 2022 under commercial law. There are no plans to distribute any dividends, in line with the strategy for 2023.
30 September 2023: including interim results for the first half of 2023 and pro rata temporis accrual of interest on the AT1 bond
The CET1 ratio, as shown in Aareal Bank’s regulatory report as at 30 September 2023, was 18.2 %, reflecting the fact that on that date the Bank had not submitted an application for inclusion of profits to the ECB. The SREP recommendations concerning the NPL inventory and the ECB's NPL guidelines for the regulatory capital of new NPLs and an additional voluntary and preventive capital deduction for regulatory uncertainties from ECB tests were taken into account.
Adjusted total risk exposure amount (as defined in Article 3 CRR – RWAs), in accordance with currently applicable law (CRR II) and applying the partial regulation for the “output floor” in connection with commercial property lending and equity exposures, based on the European Commission’s proposal dated 27 October 2021 for implementation of Basel IV (CRR III). The adjusted risk-weighted exposure amount for commercial property lending and equity exposures is determined using the higher of (i) total RWAs calculated in accordance with CRR II currently in force, and (ii) the figure calculated in accordance with the revised CRSA (pursuant to CRR III), applying the transitional provisions for 2025 (50 % output floor).

5) Please refer to our website (www.aareal-bank.com/en/responsibility/reporting-on-our-progress/) for more details.