Pfandbrief

EQS-News: Aareal Bank: Strong earnings growth offsets non-recurring burdens and higher loss allowance – Full exit from the Russian exposure

Retrieved on: 
Thursday, August 10, 2023
Aareal Bank, Loss, Partnership, Housing, Policy, NPL, Digital Solutions, IESA, EBITDA, Acquisition, Pfandbrief, Investment, Basel III: Finalising post-crisis reforms, Growth, Consolidated, Bank, Environment, Atlantic Ocean, Software, Pharmaceutical industry, Renewable energy, Management, Cryptocurrency, Video game

Moreover, a part of the investment budget was used for the early termination of the Bank's remaining Russian exposure.

Key Points: 
  • Moreover, a part of the investment budget was used for the early termination of the Bank's remaining Russian exposure.
  • This means that loss allowance for US office property financings totalled approximately €100 million.
  • What is more, deposits reached an average volume of €13.5 billion in the first six months of 2023, benefiting from higher interest rates.
  • Another €33 million of loss allowance was recognised in net gain or loss from financial instruments (fvpl) due to fair value measurement adjustments in the US.

DGAP-News: Aareal Bank reports good second-quarter results, despite challenging market environment

Retrieved on: 
Wednesday, August 10, 2022
Momentum, People, Supervisory board, Risk, Industry, Centerbridge Partners, Senior, AI, Fitch Ratings, Growth, Software, Bidding, Financial Oversight and Management Board for Puerto Rico v. Aurelius Investment, LLC, Software as a service, Pfandbrief, Advent International, CPP Investment Board, Bank, Church Street, Income, EBITDA, Review, CMO, Acquisition, Time from NPL (MSF), Tax, Deutsche Bank, CPO, AT1, Common equity, Solution, Time, Digital Solutions, Housing, Aareal Bank, Atlantic Ocean, Drug, Security (finance), Mobile phone, Risk management, Renewable energy, Management, A3

Aareal Bank reports good second-quarter results, despite challenging market environment

Key Points: 
  • Aareal Bank reports good second-quarter results, despite challenging market environment
    The issuer is solely responsible for the content of this announcement.
  • Wiesbaden, 10 August 2022 Aareal Bank Group achieved good results for the second quarter of 2022, despite a challenging market environment.
  • Jochen Klsges, Chief Executive Officer, explained: Despite high volatility and macro-economic turbulences, we have posted good results for the second quarter.
  • Moreover, Aareal Bank has further diversified its funding mix, for example by concluding a cooperation with Raisin and Deutsche Bank to gain efficient market access to deposits from private clients.

DGAP-News: Aareal Bank reports good operating performance in the first quarter of 2022 – additional loss allowance recognised for Russian exposure

Retrieved on: 
Wednesday, May 11, 2022
SAP, Communication, EBITDA, COVID-19, Pfandbrief, Tax, Atlantic Ocean, Time, Digital Solutions, Partnership, Review, Otto GmbH, AT1, Group, GLP, Aareal Bank, Income, Bank, Housing, Software as a service, Solution, LTV A-7P Corsair II, Growth, ESG, Acquisition, Security (finance), Airline, Animal, Cryptocurrency

Adjusted for this loss allowance, Aareal Bank would have achieved consolidated operating profit of around 90 million in the first quarter of the year, including the net reversal of loss allowance of 12 million.

Key Points: 
  • Adjusted for this loss allowance, Aareal Bank would have achieved consolidated operating profit of around 90 million in the first quarter of the year, including the net reversal of loss allowance of 12 million.
  • Chief Executive Officer Jochen Klsges explained: Despite the additional loss allowance for Russia, we can report a positive quarterly result thanks to a very strong earnings performance.
  • Aareal Bank has now recognised loss allowance of around 60 million, or approximately 30 per cent of the remaining Russian exposure.
  • Given the good operating performance in the first quarter, Aareal Bank currently maintains its guidance for 2022 consolidated operating profit of between 210 million and 250 million, despite loss allowance of around 60 million for the exposure to Russia.

DGAP-News: Frankfurt/Main Higher Regional Court appoints Holger Giese, Friedrich Munsberg and Dr Ulrich Theileis to the Supervisory Board of Aareal Bank

Retrieved on: 
Friday, January 14, 2022
Financial Oversight and Management Board for Puerto Rico, Supervisory board, Aareal Bank, Development finance institution, Palatine Higher Regional Court, Deutsche Postbank, Deutsche Post, Bank, Deutsche Hypothekenbank, Deutsche Bank, DB, Deloitte, Company, Pfandbrief, Portigon Financial Services, General counsel, University of Bayreuth, University, Security (finance), Property management, Pension fund

Frankfurt/Main Higher Regional Court appoints Holger Giese, Friedrich Munsberg and Dr Ulrich Theileis to the Supervisory Board of Aareal Bank

Key Points: 
  • Frankfurt/Main Higher Regional Court appoints Holger Giese, Friedrich Munsberg and Dr Ulrich Theileis to the Supervisory Board of Aareal Bank
    The issuer is solely responsible for the content of this announcement.
  • Frankfurt/Main Higher Regional Court appoints Holger Giese, Friedrich Munsberg and Dr Ulrich Theileis to the Supervisory Board of Aareal Bank
    - Prof. Dr Hermann Wagner: "We welcome the decision taken by the Higher Regional Court.
  • Wiesbaden, 14 January 2022 - With a binding decision, the Frankfurt/Main Higher Regional Court approved the application submitted by Aareal Bank to appoint Messrs Holger Giese, Friedrich Munsberg and Dr Ulrich Theileis as members of Aareal Bank's Supervisory Board, with immediate effect.
  • Prof. Dr Hermann Wagner, the Chairman of the Supervisory Board of Aareal Bank AG, commented: "We welcome the decision taken by the Higher Regional Court.

DGAP-News: Erste Abwicklungsanstalt: EAA CBB - European Central Bank approves return of full banking licence

Retrieved on: 
Wednesday, March 17, 2021
Portigon Financial Services, Pfandbrief

The EAA subsidiary Covered Bond Bank Plc (since 15 March 2021 Erste EAA Ireland Plc) was notified by the European Central Bank on 11 March 2021 that its full banking licence and its licence as a so-called designated credit institution - comparable to a Pfandbrief banking licence - would be revoked effective 12 March 2021 in accordance with its application.

Key Points: 
  • The EAA subsidiary Covered Bond Bank Plc (since 15 March 2021 Erste EAA Ireland Plc) was notified by the European Central Bank on 11 March 2021 that its full banking licence and its licence as a so-called designated credit institution - comparable to a Pfandbrief banking licence - would be revoked effective 12 March 2021 in accordance with its application.
  • "This is an important milestone for the wind-up of the company," says Christian Doppstadt, the EAA Board member responsible.
  • The remaining portfolio of EAA Covered Bond Bank had already been transferred to the EAA last year in anticipation of the return of the banking licence.
  • Since 2009/2010, the EAA has been winding down the assets of the former WestLB with a view to minimising losses.

Benoît Cœuré: Interview with the Association of German Pfandbrief Banks

Retrieved on: 
Thursday, May 9, 2019
Economy, Finance, Money, Financial markets, Pfandbrief, Eurozone, Economy of the European Union, Covered bond, Verband deutscher Pfandbriefbanken, Bank, Euro, Bond

Interview with the Association of German Pfandbrief Banks

Key Points: 
  • Interview with the Association of German Pfandbrief Banks

    Interview with Benot Cur, Member of the Executive Board of the ECB, published on 8 May 2019

    In what context did you first come across Pfandbriefe?

  • Thats when I first came across Pfandbriefe as an important building block of Europes fixed income market.
  • The covered bond purchase programme, for example, has lowered banks funding costs directly and thereby encouraged banks to extend more credit to firms and households at more attractive levels.
  • The ECB also sees merit in the proposed directive serving as a basis for new national legislation on covered bonds.