Key Indicators
| 1 Jan - 30 Sep 2022 | 1 Jan - 30 Sep 2021 | |
|---|---|---|
| Results | ||
| Operating profit (€ mn) | 157 | 123 |
| Consolidated net income (€ mn) | 100 | 56 |
| Consolidated net income allocated to ordinary shareholders (€ mn)1) | 89 | 44 |
| Cost / income ratio (%)2) | 34.0 | 43.4 |
| Earnings per ordinary share (€)1) | 1.49 | 0.73 |
| RoE before taxes (%)1) 3) | 6.7 | 5.6 |
| RoE after taxes (%)1) 3) | 4.3 | 2.3 |
| 30 Sep 2022 | 31 Dec 2021 | |
|---|---|---|
| Statement of Financial Position | ||
| Property finance (€ mn) | 31,928 | 30,048 |
| Equity (€ mn) | 3,266 | 3,061 |
| Total assets (€ mn) | 53,268 | 48,728 |
| Regulatory Indicators4) | ||
| Basel IV (phase-in) 5) | ||
| Risk-weighted assets (€ mn) | 13,136 | 12,817 |
| Common Equity Tier 1 ratio (CET1 ratio) (%) | 19.4 | 18.2 |
| Tier 1 ratio (T1 ratio) (%) | 21.7 | 20.5 |
| Total capital ratio (TC ratio) (%) | 24.2 | 23.6 |
| Basel III | ||
| Common Equity Tier 1 ratio (CET1 ratio) (%) | 19.7 | 22.2 |
| Employees | 3,298 | 3,170 |
| Ratings | ||
| Moody’s | ||
| Issuer rating | A3 | A3 |
| Senior Preferred | 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 |
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 originally 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.
30 September 2022: including originally proposed dividend of € 1.60 per share in 2022, including interim profits for 2022 and pro rata accrual of the net interest on the AT1 bond.
In accordance with the Investment Agreement entered into with Atlantic BidCo GmbH, there are no plans to distribute any dividends. The CET1 ratio as shown in the regulatory report as at 30 September 2022 was 18.4 %, 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) 30 September 2022: underlying RWA estimate based on the revised CRSA (phase-in) output floor, resulting from a “higher of” comparison with the RWA estimate based on the CRR in its current version plus revised AIRBA requirements for commercial property finance in line with the draft version dated 27 October 2021 for the European implementation of Basel IV by the European Commission which officially enter into force as of 1 January 2025.
6) Please refer to our website (www.aareal-bank.com/en/responsibility/reporting-on-our-progress/) for more details.
