Governance

Good corporate governance is and has always been part of our DNA.

Aareal Bank AG – Aareal Bank Group's parent company – published its own governance code in 1999, three years before the German Corporate Governance Code ("the Code") appeared. It welcomes and supports the Code's objectives and aims, and regularly observes the amendments and enhancements to the recommendations adopted by the government-appointed Commission on the German Corporate Governance Code. The Bank has updated its own code every year since 2002 in line with the amendments to the German Corporate Governance Code, using the annual declaration of compliance as a basis.

Many things go to make up good corporate governance; core elements definitely include a responsible approach to the interests of stakeholders and especially of shareholders, employees, creditors and the environment. Internal and external transparency; a sustainable dividend policy; efficient cooperation between the Bank's managing bodies based on constructive dialogue; and incentive and control mechanisms are further important aspects.

Declaration of compliance in accordance with section 161 of the AktG

Our annual declaration of compliance explains whether and how we comply, or will comply in the future, with the most recent version of the recommendations made by the government's Commission on the German Corporate Governance Code.

This describes relevant topics in concrete terms, e.g. for cooperation between the Executive Board and the Supervisory Board, diversity in committees, succession planning and efficiency reviews.

Notifications of managers' transactions in accordance with Article 19 of the MAR

Transactions in securities of the Company and related financial instruments by members of the Management Board and Supervisory Board of Aareal Bank AG and persons closely related to them (so-called managers' transactions) must be reported within three business days and published on the website.

Notifications of changes in voting rights in accordance with sections 40 ff. of the WpHG

Changes in equity interests notified to Aareal Bank Group can be found here.

Memorandum and Articles of Association

You can view the current version of Aareal Bank AG's Memorandum and Articles of Association here.

Code of Conduct

Integrity and responsible conduct are obligations that apply to all employees – regardless of their function or role. The Code of Conduct is an integral part of our system of responsible corporate governance. It contains binding rules requiring all employees to act in a lawful and ethical manner towards clients, business partners and colleagues.

Human Rights Guidelines

"We regard respect for human rights as an indispensable part of our responsibility as a globally active company. In addition to consistently complying with the applicable national legal provisions, we at Aareal Bank Group rely on voluntary commitment as a cornerstone of our business activities. For this reason, we are in favour of resolutely promoting human rights within our sphere of influence."

Structure of the governing bodies, including additional committees

Further information on the Supervisory Board, its work and its committees can be found in the "Transparency" chapter of the Group's Annual Report.

Cooperation with the supervisory authorities

Aareal Bank AG is a so-called "significant institution" and is therefore directly supervised by the European Central Bank in Joint Supervisory Teams with the German Federal Financial Supervisory Authority (BaFin) and Deutsche Bundesbank. Aareal Bank AG ensures transparency towards all three authorities and attaches great importance to an open and constructive dialogue. It often goes beyond the minimum required and complements regulatory expectations with its own objectives of good corporate governance.

Find out more in our annual report.

Conflicts of Interest Policy

You can view the current version of Aareal Bank AG's Conflicts of Interest Policy here.