WIESBADEN (dpa-AFX) - Aareal Bank AG (AAALF.PK), a service provider for real estate industry including financing, on Thursday reported a turnaround to profit for the full year, amidst a rise in net interest income.
The Wiesbaden-headquartered firm reported a consolidated net income of 68 million euros or earnings per ordinary share of 0.89 euros, compared with a loss of 69 million euros or 1.50 euros loss per ordinary share, reported for the year 2020.
The German lender recorded an operating profit of 155 million euros as against an operating loss of 75 million euros, reported for a year ago.
Net interest income of the financial firm moved up by 17 percent, to 597 million euros, compared with the year ended on December 31, 2021.
Loss allowance for the year on the other hand, moved down by 61 percent, to 133 million euros, on year-on-year basis.
The company said it will propose to pay a dividend totaling 1.60 euros per share.
Looking ahead, for the fiscal 2022, Aareal Bank Group expects its consolidated operating profit to be in the range of 210 million euros - 250 million euros.
For the current fiscal, it also projects its earnings per share to be in the range of 2 euros - 2.50 euros.
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