|1 Jan - 30 Jun 2021||1 Jan - 30 Jun 2020|
|Operating profit (€ mn)||73||13|
|Consolidated net income (€ mn)||33||16|
|Consolidated net income allocated to |
ordinary shareholders (€ mn)1)
|Cost / income ratio (%)2)||45.3||51.7|
|Earnings per ordinary share (€)1)||0.40||0.11|
|RoE before taxes (%)1) 3)||4.9||0.0|
|RoE after taxes (%)1) 3)||1.9||0.5|
|30 Jun 2021||31 Dec 2020|
|Statement of Financial Position|
|Property finance (€ mn)4)||27,854||27,181|
|Equity (€ mn)||2,992||2,967|
|Total assets (€ mn)||46,644||45,478|
|Risk-weighted assets (€ mn)||11,981||12,138|
|Common Equity Tier 1 ratio (CET1 ratio) (%)||19.2||18.8|
|Tier 1 ratio (T1 ratio) (%)||21.7||21.3|
|Total capital ratio (TC ratio) (%)||25.4||28.0|
|Common Equity Tier 1 ratio (CET1 ratio)(%) |
– Basel IV (phased-in) - 6)
|Bank deposit rating||A3||A3|
|Mortgage Pfandbrief Rating||Aaa||Aaa|
|Issuer default rating||BBB+||BBB+|
|Senior Non Preferred||BBB+||BBB+|
|ISS-ESG||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; in line with common practice in the banking sector, bank levy and contributions to the deposit guarantee scheme are not included; the previous year's figure was adjusted accordingly.
3) On an annualised basis
4) Excluding € 0.3 billion in private client business (31 December 2020: € 0.3 billion) and € 0.3 billion in local authority lending business by the former Westdeutsche ImmobilienBank AG (WestImmo) (31 December 2020: € 0.3 billion)
5) 31 December 2020: less a proposed dividend payout of € 1.50 per share in 2021 and incorporating the pro-rata accrual of net interest payable on the AT1 bond. The 2021 dividend payment of € 1.50 for 2020 would need to be made in two steps. In compliance with the requirements published by the European Central Bank (ECB) on 15 December 2020, the distributable amount is calculated at € 0.40 per share. A proposal on the allocation of profits was approved at the ordinary Annual General Meeting in May 2021. Following the announcement issued by the ECB on 23 July 2021, and depending on further economic developments, regulatory requirements, the Bank’s capital position and its risk situation, in the absence of material adverse developments the Bank plans to convene an extraordinary Annual General Meeting, to be held during the fourth quarter of 2021, to decide on the intended remaining payout of € 1.10 per share, amending the resolution dated 18 May 2021 on the appropriation of profits.
30 June 2021: less the remaining proposed dividend distribution of € 1.10 per share in 2021 and inclusive of the interim dividend for 2021 less any pro rata dividends in accordance with the dividend policy and pro rata accrual of the net interest on the AT1 bond.
The SREP recommendations concerning the NPL inventory and the ECB's NPL guidelines for exposures newly classified as NPLs were taken into account.
6) Underlying RWA estimate, incorporating the higher figure determined using the revised AIRBA or the revised CRSA (phase-in), 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
such as the EBA requirements.
7) Please refer to our website (www.aareal-bank.com/en/responsibility/reporting-on-our-progress/) for more details.