Key Indicators
| 1 Jan - 30 Sep 2024 | 1 Jan - 30 Sep2023 | |
|---|---|---|
| Results | ||
| Operating profit from continuing operations (€ mn) | 261 | 220 |
| Consolidated net income from continuing operations (€ mn) | 185 | 154 |
| Consolidated net income (€ mn) | 24 | 104 |
| Consolidated net income allocated to ordinary shareholders (€ mn)1) | 37 | 96 |
| Cost / income ratio (%)2) | 32.1 | 30.9 |
| Earnings per ordinary share from continuing operations (€)1)3) | 2.68 | 2.21 |
| RoE before taxes from continuing operations (%)1)4) | 10.9 | 9.1 |
| RoE after taxes from continuing operations (%)1)4) | 7.4 | 6.0 |
| 30 Sep 2024 | 31 Dec 2023 | |
|---|---|---|
| Statement of Financial Position | ||
| Property finance (€ mn) | 31,901 | 32,876 |
| Equity (€ mn) | 3,302 | 3,300 |
| Total assets (€ mn) | 46,627 | 46,833 |
| Regulatory Indicators from continuing operations5) | ||
| Basel IV (phase-in) | ||
| Risk-weighted assets (€ bn) | 14.2 | 13.7 |
| Common Equity Tier 1 ratio (CET1 ratio) (%) | 19.3 | 19.4 |
| Tier 1 ratio (T1 ratio) (%) | 21.4 | 21.6 |
| Total capital ratio (TC ratio) (%) | 25.9 | 23.5 |
| Employees6) | 1,203 | 1,201 |
| Ratings | ||
| Moody’s | ||
| Issuer rating | Baa1 | A3 |
| Senior Preferred | Baa1 | A3 |
| Senior Non-Preferred | Baa3 | Baa2 |
| Bank deposit rating | Baa1 | A3 |
| Outlook | stable | negative |
| Mortgage Pfandbrief Rating | Aaa | Aaa |
| Fitch Ratings7) | ||
| Issuer default rating | BBB | BBB |
| Senior Preferred | BBB+ | BBB+ |
| Senior Non-Preferred | BBB | BBB |
| Deposit ratings | BBB+ | BBB+ |
| Outlook | stable | stable |
| ESG Ratings8) | ||
| MSCI | AA | AA |
| ISS-ESG | prime (C) | prime (C) |
| CDP | Management Level B | Management Level B |
1) The allocation of earnings is based on the assumption that interest payable on the AT1 bond is recognised on an accrual basis.
2) Structured Property Financing and Banking & Digital Solutions segments: in line with common practice in the banking sector, bank levy and contributions to the deposit guarantee scheme are not included.
3) Without taking into account income of non-controlling interests
4) On an annualised basis
5) 31 December 2023: including profits for 2023 and pro rata temporis accrual of interest on the AT1 bond, since no profits for 2023 are to be paid out in 2024.
Regulatory indicators as at 31 December 2023 refer to the entire Group, including Aareon.
30 September 2024 (preliminary): including interim results for 2024 less a proposed dividend and including pro rata temporis accrual of net interest on the AT1 bond. The CET1 ratio, determined as the higher of the amounts under Basel III and Basel IV (phase-in) as shown in Aareal Bank’s regulatory report as at 30 September 2024, is expected to be 16.9 %.
The SREP recommendations concerning the NPL inventory were taken into account, as well as the ECB’s NPL guidelines for regulatory capital requirements for new NPLs and an additional voluntary and preventive capital deduction for regulatory uncertainties from ECB tests.
Adjusted total risk exposure amount (in accordance with Article 3 CRR – RWAs), pursuant to currently applicable law (CRR II) and applying the partial regulation for the “output floor” in connection with commercial property lending and equity exposures, based on the European Commission’s final implementation of Basel IV, by way of Regulation (EU) 2024/1623 dated 31 May 2024 (CRR III). The adjusted risk-weighted exposure amount for commercial property lending and equity exposures is determined using the higher of (i) total RWAs calculated in accordance with CRR II currently in force and (ii) the figure calculated in accordance with the revised CRSA (pursuant to CRR III), applying the transitional provisions for 2025 (50 % output floor).
6) Excluding Aareon Group
7) The ratings as at 31 December 2023 incorporate the most recent rating action on 14 February 2024.
8) Please refer to our website (www.aareal-bank.com/en/responsibility/reporting-on-our-progress/) for more details.
