AAREAL BANK AG Employees 3,010 2,982
^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 only; in line with common practice in the banking sector, bank levy and contributions to the deposit guarantee scheme are not included; the previous year's figure was adjusted accordingly.
^3) On an annualised basis
^4) Excluding EUR 0.3 billion in private client business (31 December 2020: EUR 0.3 billion) and EUR 0.3 billion in local authority lending business by the former Westdeutsche ImmobilienBank AG (WestImmo) (31 December 2020: EUR 0.3 billion)
^5) 31 December 2020: less a planned dividend distribution of EUR 1.50 per share in 2021 and incorporating the pro-rata accrual of net interest payable on the AT1 bond. The 2021 dividend payment of EUR 1.50 for 2020 would need to be made in two steps. In compliance with the requirements published by the European Central Bank (ECB) on 15 December 2020, the distributable amount is calculated at EUR 0.40 per share. The Management Board will submit a corresponding proposal for the appropriation of profits to the ordinary Annual General Meeting in May 2021. Depending on further economic developments, regulatory requirements, the Bank's capital position and its risk situation, an extraordinary Annual General Meeting, which could possibly take place during the fourth quarter of 2021, could then decide on the intended remaining payout of EUR 1.10 per share.
31 March 2021: less a planned dividend distribution of EUR 1.50 per share in 2021 and including interim profits for 2021, deducting the pro rata dividend in line with the dividend policy, and incorporating the pro-rata accrual of net interest payable on the AT1 bond. The CET1 ratio, as shown in Aareal Bank's regulatory report as at 31 March 2021, was 18.9 %, reflecting the fact that on that date the 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 exposures newly classified as NPLs, as well as the "CRR Quick fix" as of 30 September 2020, were taken into account.
^6) Underlying RWA estimate, incorporating the higher figure determined using the revised AIRBA or the revised CRSA (phased-in), based on the final Basel Committee framework dated 7 December 2017. The calculation of the material impact upon Aareal Bank is subject to the outstanding EU implementation as well as the implementation of additional regulatory requirements (CRR II, EBA requirements, etc.).
Consolidated income statement for the first quarter of 2021 (in accordance with IFRSs)
1 Jan-31 Mar 1 Jan-31 Mar Change
2021 2020
EUR mn EUR mn %
Net interest income 138 123 12
Loss allowance 7 58 -88
Net commission income 59 57 4
Net derecognition gain or loss 0 7
Net gain or loss from financial instruments (fvpl) -1 10 -110
Net gain or loss from hedge accounting -3 1 -400
Net gain or loss from investments accounted for using the equity method 0 0
Administrative expenses 150 129 16
Net other operating income/expenses -4 0
Operating profit 32 11 191
Income taxes 11 4 175
Consolidated net income 21 7 200
Consolidated net income attributable to non-controlling interests 1 1
Consolidated net income attributable to shareholders of Aareal Bank AG 20 6 233
Earnings per share (EpS)
Consolidated net income attributable to shareholders of Aareal Bank AG ^
1) 20 6 233
of which: allocated to ordinary shareholders 16 2 700
of which: allocated to AT1 investors 4 4
Earnings per ordinary share (EUR ) 0.27 0.04 575
Earnings per AT1 unit (EUR ) 0.04 0.04 ^1) The allocation of earnings is based on the assumption that net interest payable on the AT1 bond is recognised on an accrual basis. Segment results for the first quarter of 2021 (in accordance with IFRSs)
Structured Banking & Consolidation / Aareal Bank
Property Digital Aareon Reconciliation Group
Financing Solutions
1 1 1 1 1 1
Jan- Jan- 1 Jan- 1 Jan- Jan- Jan- 1 Jan- 1 Jan- Jan- Jan-
31 31 31 Mar 31 Mar 31 31 31 Mar 31 Mar 31 31
Mar Mar 2021 2020 Mar Mar 2021 2020 Mar Mar
2021 2020 2021 2020 2021 2020
EUR mn
Net interest income 127 113 11 10 0 0 0 0 138 123
Loss allowance 7 58 0 0 7 58
Net commission income 2 2 7 5 53 53 -3 -3 59 57
Net derecognition gain or loss 0 7 0 7
Net gain or loss from financial -1 10 0 -1 10
instruments (fvpl)
Net gain or loss from hedge accounting -3 1 -3 1
Net gain or loss from investments 0 0 0 0
accounted for using the equity method
Administrative expenses 84 68 19 18 50 46 -3 -3 150 129
Net other operating income/expenses -5 0 0 0 1 0 0 0 -4 0
Operating profit 29 7 -1 -3 4 7 0 0 32 11
Income taxes 10 3 0 -1 1 2 11 4
Consolidated net income 19 4 -1 -2 3 5 0 0 21 7
Consolidated net income 0 0 0 0 1 1 1 1
attributable to non-controlling interests
Consolidated net income attributable to 19 4 -1 -2 2 4 0 0 20 6
shareholders of Aareal Bank AG ----------------------------------------------------------------------------------------------------------------------- 2021-05-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------
Language: English
Company: Aareal Bank AG
Paulinenstr. 15
65189 Wiesbaden
Germany
Phone: +49 (0)611 348 - 0
Fax: +49 (0)611 348 - 2332
E-mail: aareal@aareal-bank.com
Internet: www.aareal-bank.com
ISIN: DE0005408116
WKN: 540811
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange; Stockholm
EQS News ID: 1194854
End of News DGAP News Service
=------------ 1194854 2021-05-11
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https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1194854&application_name=news(END) Dow Jones Newswires
May 11, 2021 01:07 ET (05:07 GMT)
