MDAX - listed Aareal Bank AG looks back on an eventful financial year 2005. For the year 2006 the Bank plans to restore the distribution of a dividend in 2007. The start into the current financial year was positive: We have achieved new business volume in a value of approximately 3.0 billion until end of April, corresponding to an increase of €1.3 billion or approximately 80 per cent in comparison to the previous year, rejoiced Chairman of the Management Board Dr. Wolf Schumacher.
Prognosis for 2006 affirmed
"The Management Board affirmed the prognosis for the year 2006. After the strategic realignment of the year 2005 the focus is now on the further operational implementation. Focal points of the current financial year are the continuous and systematic diversification of our national and international client base as well as the expansion on future international markets", Dr. Schumacher summarized.
"We plan to reduce our NPL-portfolio to approximately 1 billion. Given our projection of risk provisioning at a normalised level of 80 to 90 million per year, we anticipate operating profit before taxes to a range between €130 and €150 million. Accordingly, we envisage the banks return on equity after taxes to be between 7.5 and 8.0 per cent", closed Dr. Schumacher.
Source: Aareal Bank AG