Key Indicators
| 1 Jan - 30 Sep 2021 | 1 Jan - 30 Sep 2020 | |
|---|---|---|
| Results | ||
| Operating profit (€ mn) | 123 | 24 |
| Consolidated net income (€ mn) | 56 | 17 |
| Consolidated net income allocated to ordinary shareholders (€ mn)1) | 44 | 3 |
| Cost / income ratio (%)2) | 43.4 | 44.0 |
| Earnings per ordinary share (€)1) | 0.73 | 0.06 |
| RoE before taxes (%)1) 3) | 5.6 | 0.3 |
| RoE after taxes (%)1) 3) | 2.3 | 0.2 |
| 30 Sep 2021 | 31 Dec 2020 | |
|---|---|---|
| Statement of Financial Position | ||
| Property finance (€ mn)4) | 29,046 | 27,181 |
| Equity (€ mn) | 3,038 | 2,967 |
| Total assets (€ mn) | 46,751 | 45,478 |
| Regulatory Indicators5) | ||
| Risk-weighted assets (€ mn) | 10,803 | 12,138 |
| Common Equity Tier 1 ratio (CET1 ratio) (%) | 21.5 | 18.8 |
| Tier 1 ratio (T1 ratio) (%) | 24.2 | 21.3 |
| Total capital ratio (TC ratio) (%) | 28.1 | 28.0 |
| Common Equity Tier 1 ratio (CET1 ratio)(%) – Basel IV (phased-in) - 6) | 17.8 | 17.3 |
| Employees | 3,115 | 2,982 |
| 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 Ratings7) | ||
| MSCI | AA | AA |
| ISS-ESG | prime (C+) | prime (C+) |
| CDP | Awareness Level C | Awareness Level 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 will have 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 was calculated at € 0.40 per share. A proposal on the allocation of profits was approved at the ordinary Annual General Meeting in May 2021.
On 2 November 2021, an Extraordinary General Meeting was convened for 9 December 2021, to decide on the intended remaining payout of € 1.10 per share, amending as planned the resolution of the Annual General Meeting of 18 May 2021 on the appropriation of profits.
30 September 2021: less the remaining proposed dividend distribution of € 1.10 per share in 2021 and inclusive of the interim profits 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. The CET1 ratio as shown in the regulatory report as at 30 September 2021 was 20.6 %, reflecting the fact that as at that date Aareal Bank had not submitted an application for inclusion of profits to the ECB.
6) Underlying RWA estimate, incorporating the higher figure determined using the revised AIRBA or the revised CRSA (phase-in), based on the draft version dated 27 October 2021 of the European implementation of Basel IV by the European Commission. The conservative calculation of the material impact upon Aareal Bank is subject to the final 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.
