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Inside Information according to Article 17 MAR: Aareal Bank Group: material litigations with holders of profit-participation rights issued by former Corealcredit Bank concluded – Aareal Bank AG raises forecast for consolidated operating profit 2016

09 November 2016, 03:23 PM: Aareal Bank Group has concluded material litigations concerning former Corealcredit Bank AG: the ruling was fully in the Bank's favour.

09 November 2016, 03:23 PM: Aareal Bank Group has concluded material litigations concerning former Corealcredit Bank AG: the ruling was fully in the Bank's favour. Holders of profit-participation rights issued by Corealcredit Bank AG had sued it in connection with a reduction of repayment claims under profit-participation certificates for the financial years 2005 to 2008. These risks had been fully covered through provisions recognised and collateral provided. The conclusion of these proceedings will result in a positive non-recurring effect of € 28 million in pre-tax consolidated operating profit, to be recognised in the fourth quarter. Since this positive non-recurring effect will be offset by a corresponding tax expense of virtually the same amount, related to the same issue, said non-recurring effect will have only a minor impact upon results after taxes, amounting to approximately € 1 million.
 
Against this background, and taking into account the results generated during the 2016 financial year to date, Aareal Bank raises its guidance for consolidated operating profit 2016. The Bank now expects consolidated operating profit for the 2016 financial year in a range between € 360 million and € 380 million (including the non-recurring effect), compared to an initial guidance of between € 300 million and € 330 million.

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