Operating profit from continuing operations (€ mn)
294
221
Consolidated net income from continuing operations (€ mn)
212
127
Consolidated net income (€ mn)
2,274
48
Consolidated net income allocated to ordinary shareholders (€ mn)1)
2,241
42
Cost / income ratio (%)2)
31.4
29.6
Earnings per ordinary share from continuing operations (€)1)3)
3.00
1.63
RoE after taxes from continuing operations (%)1)
5.9
3.4
31 Dec 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 operations4)
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
Basel IV (fully phased)
Common Equity Tier 1 ratio (CET1 ratio) (%)
15.2
13.4
Employees5)
1,198
1,201
31 Dec 2024
31 Dec 2023
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
31 Dec 2024
31 Dec 2023
Fitch Ratings6)
Issuer Default Rating
BBB
BBB
Senior Preferred
BBB+
BBB+
Senior Non Preferred
BBB
BBB
Deposit Rating
BBB+
BBB+
Outlook
stable
stable
31 Dec 2024
31 Dec 2023
ESG Ratings7)
MSCI
A
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; one-off costs are also excluded. 3) Without taking into account income of non-controlling interests 4) 31 December 2023: including profits for 2023 and pro rata temporis accrual of interest on the AT1 bond since there was no distribution of the 2023 annual profit in 2024. Regulatory indicators as at 31 December 2023 refer to the entire Group including Aareon. 31 December 2024: including annual results for 2024 less a proposed dividend and including pro rata temporis accrual of interest on the AT1 bond. 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. Adjusted total risk exposure amount (in accordance with Article 3 CRR II – RWAs), using the higher of (i) total RWAs calculated in accordance with CRR II currently in force and (ii) total RWAs applying the partial regulation for the “output floor” (50% phase-in/72.5% fully phased) in connection with commercial property lending, equity exposures, CVA and OpRisk, based on the European Commission’s final implementation of Basel IV, by way of Regulation (EU) 2024/1623 dated 31 May 2024 (CRR III). No such adjustment was applied to RWA calculations at the end of 2024. 5) Excluding the Aareon sub-group 6) The ratings as at 31 December 2023 incorporate the rating action on 14 February 2024. 7) Please refer to our website (www.aareal-bank.com/en/responsibility/reporting-on-our-progress/) for more details
