|1 Jan - 30 Sep 2019||1 Jan - 30 Sep 2018|
|Operating profit (€ mn)||186||199|
|Consolidated net income (€ mn)||121||131|
|Consolidated net income allocated to|
ordinary shareholders (€ mn)1)
|Cost / income ratio (%)2)||42,2||41,8|
|Earnings per ordinary share (€)1)||1.80||1.97|
|RoE before taxes (%)1) 3)||8.7||9.7|
|RoE after taxes (%)1) 3)||5.6||6.3|
|30 Sep 2019||31 Dec 2018|
|Statement of Financial Position|
|Property finance (€ mn)4)||27,139||26,395|
|Equity (€ mn)||2,817||2,928|
|Total assets (€ mn)||43,155||42,687|
|Risk-weighted assets (€ mn)||12,656||13,039|
|Common Equity Tier 1 ratio (CET1 ratio) (%)||17.1||17.2|
|Tier 1 ratio (T1 ratio) (%)||19.5||19.5|
|Total capital ratio (TC ratio) (%)||26.7||26.2|
|Common Equity Tier 1 ratio (CET1 ratio) (%) – Basel IV (estimated)6)||12.6||13.2|
|Senior Non Preferred8)||Baa1||Baa1|
|Bank deposit rating||A3||A3|
|Mortgage Pfandbrief Rating||Aaa||Aaa|
|Issuer default rating||A-||A-|
|Senior Non Preferred||A-||A-|
|ISS-oekom||prime (C)||prime (C)|
1) The allocation of earnings is based on the assumption that net interest payable on the AT1 bond is recognised on an accrual basis.
2) Structured Property Financing segment only
3) On an annualised basis
4) Excluding € 0.5 billion in private client business (31 December 2018: € 0.6 billion) and € 0.4 billion in local authority lending business by the former Westdeutsche ImmobilienBank AG (WestImmo) (31 December 2018: € 0.5 billion)
5) When calculating own funds as at 30 September 2019, interim profits were taken into account, deducting the pro-rata dividend in line with the dividend policy, and incorporating the pro-rata accrual of net interest payable on the AT1 bond. Moreover, the expected relevant impact of the TRIM exercise on commercial property financings, and of the SREP recommendations concerning the NPL inventory as well as the ECB‘s NPL guidelines for exposures newly classified as NPLs, were taken into account for determining regulatory indicators.
6) Underlying estimate, given a 72.5 % output floor based on the final Basel Committee framework dated 7 December 2017. The calculation of the material impact upon Aareal Bank is subject to the outstanding EU implementation as well as the implementation of additional regulatory requirements (CRR II, EBA requirements etc.).
7) Moody‘s terminology: ”Senior Unsecured”
8) Moody‘s terminology: ”Junior Senior Unsecured”
9) Published on 21 January 2019
10) Please refer to our website for more details.
This report contains rounded numbers, which may result in slight differences when aggregating figures and calculating percentages.