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Aareal Bank Posts Higher Q3 Results

Aareal Bank Group (AAALF.PK), on Thursday, reported Q3 consolidated net income of € 42 million compared to € 23 million last year.

After net interest payable on the AT1 bond and non-controlling interest income, consolidated net income allocated to ordinary shareholders amounted to € 39 million versus € 20 million in the prior year. Earnings per share amounted to € 0.65 compared to € 0.33 earned a year ago.

Consolidated operating profit rose by 32% in the third quarter to € 66 million compared to € 50 million reported in the third-quarter of 2021.

Net interest income continued to rise by 19% year-on-year, reaching € 184 million versus the prior's € 155 million, and "thus surpassing the already very good previous quarter by € 13 million - to reach the highest level in seven years."

Jochen Klösges, Chief Executive Officer, said, "We are very pleased with Aareal Bank Group's performance so far this year. We have further increased our earnings, and our strategy is clearly bearing fruit. Amid the high political and economic uncertainties, our operating strength is a solid foundation in an increasingly difficult environment."

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