Aareal Bank Achieves Strong H1 Performance

Aareal Bank AG reported a notable increase in operating profit for the first half of 2024. The bank's operating profit rose 31% to €181 million year-on-year. In the second quarter alone, it nearly doubled to €90 million.

The sale agreement for Aareon has led to it being reported as a discontinued operation. Expected consolidated net income for 2024 is around €2.2 billion, including gains from the Aareon sale.

Net interest income increased by 11% to €530 million for H1 2024. Despite a slight decline in net commission income, the bank maintained a solid risk profile and healthy loan-to-value ratios.

CEO Dr. Christian Ricken affirmed the bank's robust financial position, emphasizing its market strength, opportunity seizing, and risk management.

Administrative expenses remained stable, and funding activities, including a green bond issuance, progressed as planned. The CET1 ratio increased to 20.1% by the end of Q2 2024, underscoring a solid capital base.