Share

Key Indicators

  1 Jan - 31 Mar 2022 1 Jan - 31 Mar 2021
Results    
Operating profit (€ mn) 30 32
Consolidated net income (€ mn) 19 21
Consolidated net income allocated to
ordinary shareholders (€ mn)1) 
15 16
Cost / income ratio (%)2) 37.5 51.9
Earnings per ordinary share (€)1) 0.25 0.27
RoE before taxes (%)1) 3)  3.7 4.1
RoE after taxes (%)1) 3)  2.3 2.6

   

  31 Mar 2022 31 Dec 2021
Statement of Financial Position    
Property finance (€ mn) 30,754 30,048
Equity (€ mn) 3,132 3,061
Total assets (€ mn) 48,997 48,728
     
Regulatory Indicators4)    
Basel IV (phase-in) 5)    
     Risk-weighted assets (€ mn) 13,366 12,817
     Common Equity Tier 1 ratio (CET1 ratio) (%) 17.9 18.2
     Tier 1 ratio (T1 ratio) (%) 20.2 20.5
     Total capital ratio (TC ratio) (%) 22.9 23.6
Basel III    
     Common Equity Tier 1 ratio (CET1 ratio)(%) 22.2 22.2
     
Employees 3,209 3,170
     
Ratings    
Moody’s    
Issuer rating A3 A3
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 Ratings6)    
MSCI AA AA
ISS-ESG prime (C+) prime (C+)
CDP Awareness
Level C
Awareness
Level C
     
Share price    
XETRA® closing price (€) 28.50 28.70

 

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: 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 2021: excluding proposed dividend of € 1.60 per share in 2022 for the financial year 2021, including the dividend of € 1.10 per share not distributed in 2021 as well as the pro rata temporis accrual of net interest on the AT1 bond. The appropriation of profits is subject to approval by the Annual General Meeting.
31 March 2022: excluding proposed dividend of € 1.60 per share in 2022 and including interim profits for 2022, less any pro rata dividends in accordance with the dividend policy and pro rata accrual of the net interest on the AT1 bond. The CET1 ratio, as shown in the regulatory report as at 31 March 2022, was 20.8 %, reflecting the fact that as at that date Aareal 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.

5) Underlying RWA estimate in accordance with the current version of the CRR plus revised AIRBA requirements for commercial property lending, based on the European Commission’s draft for the European implementation of Basel IV dated 27 October 2021. The calculation also includes a buffer (maintaining the scaling factor of 1.06 for AIRBA risk weights, and the 370 % risk weight for the IRBA equity exposure class), to account for the uncertainty surrounding the future final wording of CRR III as well as the implementation of further regulatory requirements such as EBA requirements for internal Pillar 1 models. When Basel IV enters into force on 1 January 2025, RWAs will be calculated based on the European requirements, which will have been finalised by then, and the higher of the revised AIRBA and the revised CRSA (standardised approach for credit risk) phase-in output floor.

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