Aareal Bank AG
Aareal Bank AG english
Aareal Bank AG
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Wiesbaden, August 28, 2002 – Aareal Bank AG
In the first half of 2002, the Aareal Bank Group increased its Group net profit
by 11.4% to EUR 49 million, clearly bucking the sector trend. The return on
equity after taxes achieved of 9.6% is well within the budget figures for the
current financial year.
Earnings (in accordance with IAS) 1.1.-30.6.02 1.1.-30.6.01 % Change
EUR m EUR m
Net interest income 170 114 + 49.1
Net loan loss provisions 49 29 + 69.0
(pro-rated annual figures [2] 58 – 15.5)
Interest income after provision
for loan losses 121 85 + 42.4
Net commission income 96 91 + 5.5
Net trading income 3 7 – 57.1
Results from non-trading assets – 4 31
Other operating income /expenses 50 5
Administrative expenses 176 143 + 23.1
(pro-rated annual figures [2] 175 + 0.1)
Operating profit 90 76 + 18.4
Profit before taxes 87 72 + 20.8
Income taxes 29 28 + 3.6
Profit after taxes 58 44 + 31.8
Minorities 9 0
Group net income 49 44 + 11.4
Portfolio 30.6.02 31.12.01 % Change
EUR m EUR m
Property financing
under management 27,459 26,054 + 5.4
of which international 9,933 9,539 + 4.1
Equity 1,021 1,028 [1] – 0.7
Total assets 36,064 31,970 + 12.8
Key ratios 1.1.-30.6.02 1.1.-30.6.01
Cost/income ratio 58.9% 70.6%
Earnings per share 1.40 EUR 1.24 EUR + 12.9
RoE after tax (annualised) 9.6% 8.9% [1]
[1] Including the ‘Silent participation’, which was converted to ‘Equity’ on 3
January 2002
[2] For comparative purposes:
pro-rated annual figures of former
DePfa Group’s segments ‘Property finance’ and ‘IT’
The interim report can be accessed under http://www.aareal-bank.com
end of ad-hoc-announcement (c)DGAP 28.08.2002
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WKN: 540811; ISIN: DE0005408116; Index:
Listed: Amtlicher Markt in Frankfurt; Freiverkehr in München und Stuttgart
280802 Aug 02
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