Aareal Bank AG
Aareal Bank AG english
Aareal Bank pleased with its first year as an independent bank
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Aareal Bank pleased with its first year as an independent bank
Aareal Bank has brought its first financial year as an independent group
to a successful conclusion. Consolidated net income (after minority in-
terest) rose to 87m EUR, surpassing the previous year’s result by 22m EUR.
This corresponded to return on equity (after taxes and minority interest)
of 8.6% – which was within the bank’s own projections – and was accompanied by a
clear reduction in the cost/income ratio, from 79.8% to 60.9%.
Earnings (acc. to IAS) 2002 2001 Change
(EUR m) (EUR m) (%)
Net interest income 331 206 +60.7
Provision for loan losses 109 95 +14.7
Net interest after LLP 222 111 +100.0
Net commission income 193 206 -6.3
Trading result 3 28 -89.3
Results non-trading assets -15 42
Other operating income 128 -14
Administrative expenses 359 312 +15.1
Operating profit 172 61 +182.0
Amortisation of goodwill 7 12 -41.7
Income taxes 60 25 +140.0
Minorities 18 2
Group retained income 87 22 +295.5
Indicators 2002 2001
Cost/income ratio 60.9% 79.8%
Earnings per share 2.47 EUR 0.70 EUR
RoE after taxes 8.6% 2.1%
The Annual Report can be downloaded under www.aareal-bank.com
end of ad-hoc-announcement (c)DGAP 14.04.2003
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Portfolio Data 31.12.02 31.12.01 Change
(EUR m) (EUR m) (%)
Property finance 27,385 26,054 +5.1
under management
of which international 10,544 9,539 +10.5
New commitments 6,464 6,953 -7.0
of which international 4,796 4,105 +16.8
Shareholders’ equity 1,023 1,150 (1) -11.0
Total assets 37,295 31,970 +16.7
(1) including a silent partnership which was converted to shareholders’
equity on 3 January 2002 and the 122m EUR dividend distribution in
2002 made in the course of the split of the former DEPFA
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WKN: 540811; ISIN: DE0005408116; Index: MDAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, München und Stuttgart
140737 Apr 03
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