Aareal Bank FY24 Profit Rises - Quick Facts

(RTTNews) - Aareal Bank (AAALF.PK) reported that the Bank's consolidated net income for fiscal 2024 was 212 million euros, up 67 percent from 127 million euros, last year. The sale of Aareon was closed on 1 October 2024, yielding a net gain on sale of 2 billion euros. The company stated that fiscal 2024 consolidated net income allocated to ordinary shareholders including Aareon, which also includes the gain on the Aareon sale, totalled 2.2 billion euros compared to 42 million euros, last year. Operating profit from continuing operations increased by 33 percent to 294 million euros. Net interest income increased by 5 percent to 1.1 billion euros.

Aareal Bank expects to see another significant increase in operating profit to between 375 million euros and 425 million euros in fiscal 2025, excluding expected one-off charges for efficiency enhancement measures and investments in IT-infrastructure.

The Management Board and the Supervisory Board proposed to the AGM that it distribute dividends of 1.9 billion euros for 2024 financial year.

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