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Aareal Bank AG

Investor Presentation • Nov 8, 2011

11_ip_2011-11-08_4a7bf00f-c618-41fa-a3db-5d673d12ec97.pdf

Investor Presentation

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November 08, 2011Dr. Wolf Schumacher, CEO – Hermann J. Merkens, CFO

Agenda

  • Economic environment
  • Q3 2011 results at a glance
  • B/S structure, capital & funding position
  • Group figures Q3 2011
  • Asset quality
  • Outlook
  • Appendix
  • Definitions and Contacts

Economic environment Aareal Bank's point of view

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Still very challenging: high market volatility, risks in the financial systems and rising fears of a slow down of global economies

Q3 2011 results at a glance

Q3 2011 results at a glance

2010 operating profit already outperformed after 9M

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Structured property financing New business with attractive risk-return profile

Consulting / ServicesSolid in IT & volumes – weak in deposit margins

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  • Deposit volume of the housing industry with € 4.8 bn on a high level
  • Lower than originally assumed interest environment burdens segments results vs. plan
  • SG I automatisering will regularly enhance Q4-results

B/S structure, capital & funding position

Strong capital ratios & stable capital structure

  • Targeted Core Tier 1 ratio over-achieved as of today; new business opportunities will be captured only in accordance with achieving this target
  • Strong capital ratios in line with business model, company size and capital market expectations
  • Full repayment of remaining SoFFin silent participation possible without further capital increase

Core Tier 1 Basel III fully loaded1) Temporarily raised to 9% - 10%

Simulation: estimated Basel III effects per 30.09.20112)

1) ex SoFFin and ex hybrids

2) Actual figures may vary significantly from estimates

3) Estimated impact of Basel III implementation due to capital deductions and counterparty credit risk

Asset- / Liability structure according to IFRSAs at 30.09.2011: € 41.6 bn (30.06.2011: € 40.9 bn)

10

Refinancing situation 2011Flexible use of unsecured and secured funding

Refinancing situationDiversified funding sources and distribution channels

  • Aareal Bank has clearly reduced its dependency upon wholesale funding
  • At the beginning of 2002, long term wholesale funding accounted for 47% of overall funding volumes - by 30.09.2011, this share had fallen to 26% (or even ~9% without Pfandbriefe)

As at 30.09.2011

Group figures Q3 2011

Net interest income

Burdened by one-off for repurchase of 1st SoFFin Bond

NII Consulting / ServicesNII Structured Property Financing

  • Q3 2011 was burdened by net ~ € 3 - 4 mn for repurchase of € 800 mn of the 1st SoFFin Bond
  • Q4 2010 was boosted by € 3 - 4 mnone-offs
  • Net interest income influenced by
    • Structured Property Financing: Mainly results from higher margins
    • Consulting / Services: Low interest rate level continues to burden the deposit taking business

Loan loss provisionsLoan loss provisions within normal quarterly variation

  • Close monitoring of our loan portfolio and successful restructuring efforts results in only € 78 mn LLP in 9M
  • LLP stays annualised at the lower end of the given range of € 110 mn to € 140 mn, showing normal quarterly variation

Net commission incomeRelief of costs for SoFFin guarantees materialises

  • Early redemption of the 2nd SoFFinBond (held in own books) relieved NCI starting in Q2 2011, full effect showing in Q3 2011
  • € 800 mn repurchase of the 1st SoFFin Bond relieved NCI starting in Q3 2011, full effect will show in Q4 2011

Trading, non trading and hedge accountingResult reflects volatile markets in Q3 2011

  • Trading result reflects
    • Valuation of cross-currency basis swaps and credit derivatives
  • Non-trading result reflects
    • Realised losses due to active management of Treasury portfolio

Admin expensesHigh cost discipline further maintained

  • Q3 2011-figures with € 93 mnwithin full-years guidance
  • Efficiency measures still keeping the admin expenses under control
  • Starting in 2011 admin expenses includes addition burden from the German bank levy (~€ 4 mn in 9M)

Asset quality

Total property finance portfolio High diversification and sound asset quality

Total property finance portfolio Continuing conservative approach

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1) Incl. property finance portfolio still on DEPFA's balance sheet

2) General LLP consists to a high degree of Basel II expected loss which

are allocated specific loans in most cases

Western Europe (ex Ger) credit portfolioTotal volume outstanding as at 30.09.2011: € 6.1 bn

Southern Europe credit portfolioTotal volume outstanding as at 30.09.2011: € 4.2 bn

German credit portfolio

Total volume outstanding as at 30.09.2011: € 3.4 bn1)

Eastern Europe credit portfolio Total volume outstanding as at 30.09.2011: € 2.9 bn

Northern Europe credit portfolio Total volume outstanding as at 30.09.2011: € 2.6 bn

North America credit portfolio Total volume outstanding as at 30.09.2011: € 3.2 bn

Asia credit portfolioTotal volume outstanding as at 30.09.2011: € 0.8 bn

Treasury portfolio€ 11.0 bn of high quality and highly liquid assets

As at 30.09.2011 – all figures are nominal amounts1) Composite Rating

Treasury portfolio€ 8.2 bn Public Sector Debtors

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2) Incl. securities of the AfS- and the LaR-category after tax

303) Incl. securities of the HtM- and the LaR-category after tax

Treasury portfolio€ 2.5 bn Financials

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1) Incl. securities of the AfS- and the LaR-category after tax

2) Incl. securities of the HtM- and the LaR-category after tax

Total Structured Property Financing Portfolio€ 23.2 bn of high quality real estate assets

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Outlook

Outlook FY operating profit 2010 already outperformed after 9M

2
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r
m
e
n
s
r
o
m

u
d
i
d
b
d
l
d
t
t
t
t
t
t
t
n
o
n-
r
a
n
g
a
s
s
e
s
e
p
e
c
e
e
o
n
o
r
e
o
m
o
e
r
a
e
x
u
w
u
u
l
i
i
f
l
t
r
e
a
s
a
o
n
o
o
s
s
e
s
A
d
i
m
n
e
p
e
n
s
e
s
x		 U
d
l
l
i
h
l
b
l
l
i
l
d
i
2
0
1
0
t
t

n
e
r
c
o
n
r
o
:
s
g
y
a
o
v
e
e
v
e
n
c
u
n
g
d
d
i
i
l
b
d
f
G
b
k
i
l
t
a
o
n
a
u
r
e
n
o
e
r
m
a
n
a
n
n
g
e
v
y
O
i
f
i
t
t
p
e
r
a
n
g
p
r
o		 9
M
2
0
1
1
i
f
i
l
d
b
F
Y
2
0
1
0
l
l
t
t
o
p
e
r
a
n
g
p
r
o
a
r
e
a
a
o
e
e
e

y
v
v
P
R
E
t
r
e-
a
x
o		 A
b
l
l
2
0
1
0

o
v
e
e
v
e

Generally, Aareal Bank remains in a position to further exceed consolidated operating profit of the 2010 financial year during the current year – having matched the previous year's results after nine months already.

1) As in 2010, the bank cannot rule out additional allowances for credit losses

Appendix

Aareal Bank GroupKey figures Q3 2011

Qu
3
te
ar
r		 Qu
3
te
ar
r		 C
ha
ng
e
2
0
1
1
Eu		 2
0
1
0
Eu
ro
mn
ro
mn
Pr
f
i
d
lo
t a
t
o
n
ss
a
cc
ou
n
Ne
in
inc
t
te
t
res
om
e		 1
3
3		 1
3
1		 2
%
A
l
low
for
d
i
los
t
an
ce
c
re
se
s		 3
6		 3
2		 1
3
%
Ne
in
in
f
l
lo
fo
d
i
lo
t
te
t
te
t
re
s
co
m
e
a
r a
w
an
ce
r c
re
ss
es		 9
7		 9
9		 -2
%
Ne
iss
ion
inc
t c
om
m
om
e		 3
8		 2
4		 5
8
%
Ne
l
he
dg
ing
t r
t o
t
es
u
n
e a
cc
ou
n		 2 2
-		 -
/ e
Ne
d
ing
inc
t
tra
om
e
xp
en
se
s		 2
0		 2 -
Re
l
fro
d
ing
ts
tra
ts
su
m
no
n-
a
ss
e		 -2
2		 3
-		 -
Re
l
fro
ies
d
for
i
ts
te
t e
ty
su
m
co
mp
an
a
cc
ou
n
a
q
u		 - - -
fro
Re
l
inv
ies
ts
tm
t p
t
su
m
es
en
rop
er		 3 0 -
A
dm
in
is
ive
tra
t
ex
p
en
se
s		 9
3		 8
8		 6
%
Ne
he
ing
inc
/ e
t o
t
t
r o
p
era
om
e
xp
en
se
s		 2 1 1
0
0
%
Im
irm
f g
dw
i
l
l
t o
p
a
en
oo		 0 - -
in
f
i
Op
Pr
t
t
er
a
g
o		 4
7		 3
3		 4
2
%
Inc
tax
om
e
es		 1
3		 1
1		 1
8
%
in
/
Ne
t
lo
co
m
e
ss		 3
4		 2
2		 5
5
%
A
l
lo
io
f r
l
t
ts
ca
n
o
es
u
/
Ne
inc
los
i
bu
b
le
l
l
ing
in
t
t
tr
ta
to
tro
te
ts
om
e
s
a
no
n-c
on
res		 5 5 0
%
Ne
inc
/
los
i
bu
b
le
ha
ho
l
de
f
Aa
l
Ba
k
A
G
t
t
tr
ta
to
om
e
s
a
s
re
rs
o
rea
n		 2
9		 1
7		 1
%
7
Ap
ia
io
f p
f
i
t
ts
p
ro
p
r
n
o
ro
S
i
len
h
ip
i
bu
ion
by
So
F
F
in
t p
tn
tr
t
ar
ers
co
n		 5 7 2
9
%
-
Co
i
in
f
i
/ a
l
da
d
d
la
d
lo
te
ta
t
te
ns
o
re
e
p
ro
cc
um
ss
u		 2
4		 1
0		 1
4
0
%

Aareal Bank Group: Segment Reporting Key figures Q3 2011 by operating units

S
tru
c
Pr
op
F
in
an		 d
tu
re
ty
er
in
c
g		 Co
ns
u
Se
rv		 in
/
l
t
g
ice
s		 Co
i
io
/
l
da
t
ns
o
n
Re
i
l
ia
io
t
co
nc
n		 Aa
l
Ba
k
re
a
n
Gr
ou
p
0
1.
0
7.-
3
0.
0
9.
2
0
1
1		 0
1.
0
7.-
3
0.
0
9.
2
0
1
0		 0
1.
0
7.-
3
0.
0
9.
2
0
1
1		 0
1.
0
7.-
3
0.
0
9.
2
0
1
0		 0
1.
0
7.-
3
0.
0
9.
2
0
1
1		 0
1.
0
7.-
3
0.
0
9.
2
0
1
0		 0
1.
0
7.-
3
0.
0
9.
2
0
1
1		 0
1.
0
7.-
3
0.
0
9.
2
0
1
0
Eu
ro
mn
Ne
in
inc
t
te
t
res
om
e		 1
2
3		 1
2
1		 0 0 1
0		 1
0		 1
3
3		 1
3
1
A
l
low
for
d
i
los
t
an
ce
c
re
se
s		 3
6		 3
2		 3
6		 3
2
Ne
in
in
f
l
low
fo
d
i
lo
t
te
t
te
t
re
s
co
me
a
r a
an
ce
r c
re
ss
es		 8
7		 8
9		 0 0 1
0		 1
0		 9
7		 9
9
Ne
iss
ion
inc
t c
om
m
om
e		 4 5
-		 4
5		 3
9		 1
1
-		 1
0
-		 3
8		 2
4
Ne
l
he
dg
ing
t r
t o
t
es
u
n
e a
cc
ou
n		 2 2
-		 2 2
-
Ne
d
ing
inc
/ e
t
tra
om
e
xp
en
se
s		 2
0		 2 2
0		 2
fro
Re
l
d
ing
ts
tra
ts
su
m
no
n-
a
ss
e		 -2
2		 4
-		 1 2
2
-		 3
-
Re
l
fro
ies
d
for
i
ts
te
t e
ty
su
m
co
mp
an
a
cc
ou
n
a
q
u
Re
l
fro
inv
ies
ts
tm
t p
t
su
m
es
en
rop
er		 3 0 3 0
A
dm
in
is
ive
tra
t
ex
p
en
se
s		 5
4		 5
4		 4
0		 3
5		 1
-		 1
-		 9
3		 8
8
Ne
he
ing
inc
/ e
t o
t
t
r o
p
era
om
e
xp
en
se
s		 2 2 0 0 0 1
-		 2 1
Im
irm
f g
dw
i
l
l
t o
p
a
en
oo		 0 0
Op
in
f
i
t
t
er
a
g
p
ro		 4
2		 2
8		 5 5 0 0 4
7		 3
3
Inc
tax
om
e
es		 1
2		 1
0		 1 1 1
3		 1
1
Ne
in
/
lo
t
co
me
ss		 3
0		 1
8		 4 4 0 0 3
4		 2
2
f r
A
l
lo
io
l
t
ts
ca
n
o
es
u
/
Ne
inc
los
i
bu
b
le
l
l
ing
in
t
t
tr
ta
to
tro
te
ts
om
e
s a
no
n-c
on
res		 4 4 1 1 5 5
Ne
inc
/
los
i
bu
b
le
ha
ho
l
de
f
Aa
l
Ba
k
A
G
t
t
tr
ta
to
om
e
s a
s
re
rs
o
rea
n		 2
6		 1
4		 3 3 0 0 2
9		 1
7

Aareal Bank GroupKey figures 9M 2011

0
1.
0
1.-
3
0.
0
9.
2
0
1
1		 0
1.
0
1.-
3
0.
0
9.
2
0
1
1		 C
ha
ng
e
Eu
ro
mn		 Eu
ro
mn
Pr
f
i
d
lo
t a
t
o
n
ss
a
cc
ou
n
Ne
in
inc
t
te
t
res
om
e		 4
0
1		 3
0
7		 8
%
A
l
low
for
d
i
los
t
an
ce
c
re
se
s		 7
8		 9
7		 2
0
%
-
Ne
in
in
f
l
lo
fo
d
i
lo
t
te
t
te
t
re
s
co
m
e
a
r a
w
an
ce
r c
re
ss
es		 3
2
3		 2
7
3		 1
8
%
Ne
iss
ion
inc
t c
om
m
om
e		 9
9		 8
6		 1
5
%
Ne
l
he
dg
ing
t r
t o
t
es
u
n
e a
cc
ou
n		 2 2 -
/ e
Ne
d
ing
inc
t
tra
om
e
xp
en
se
s		 1
4		 5
-		 -
Re
l
fro
d
ing
ts
tra
ts
su
m
no
n-
a
ss
e		 -1
8		 1
1		 -
Re
l
fro
ies
d
for
i
ts
te
t e
ty
su
m
co
mp
an
a
cc
ou
n
a
q
u		 1 5 8
0
%
-
Re
l
fro
inv
ies
ts
tm
t p
t
su
m
es
en
rop
er		 7 0 -
A
dm
in
is
ive
tra
t
ex
p
en
se
s		 2
8
0		 2
1
7		 3
%
/ e
Ne
he
ing
inc
t o
t
t
r o
p
era
om
e
xp
en
se
s		 -1
0		 7
-		 -
Im
irm
f g
dw
i
l
l
t o
p
a
en
oo		 0 0 -
Op
in
Pr
f
i
t
t
er
a
g
o		 1
3
8		 9
4		 4
7
%
Inc
tax
om
e
es		 3
9		 2
9		 3
4
%
/
Ne
in
lo
t
co
m
e
ss		 9
9		 6
5		 5
2
%
A
l
lo
io
f r
l
t
ts
ca
n
o
es
u
Ne
inc
/
los
i
bu
b
le
l
l
ing
in
t
t
tr
ta
to
tro
te
ts
om
e
s
a
no
n-c
on
res		 1
4		 1
4		 0
%
Ne
inc
/
los
i
bu
b
le
ha
ho
l
de
f
Aa
l
Ba
k
A
G
t
t
tr
ta
to
om
e
s
a
s
re
rs
o
rea
n		 8
5		 5
1		 6
7
%
Ap
ia
io
f p
f
i
t
ts
p
ro
p
r
n
o
ro
S
i
len
h
ip
i
bu
ion
by
So
F
F
in
t p
tn
tr
t
ar
ers
co
n		 1
6		 2
4		 3
3
%
-
Co
/ a
l
i
da
d
in
d
f
i
la
d
lo
te
ta
t
te
ns
o
re
e
p
ro
cc
um
ss
u		 6
9		 2
7		 1
5
6
%

Aareal Bank Group: Segment Reporting Key figures 9M 2011 by operating units

S
tru
c
Pr
op
in
F
an		 d
tu
re
ty
er
in
c
g		 Co
ns
u
Se
rv		 /
l
in
t
g
ice
s		 Co
/
l
i
da
io
t
ns
o
n
Re
i
l
ia
io
t
co
nc
n		 Aa
l
Ba
k
re
a
n
Gr
ou
p
0
1.
0
1.-
3
0.
0
9.
2
0
1
1		 0
1.
0
1.-
3
0.
0
9.
2
0
1
0		 0
1.
0
1.-
3
0.
0
9.
2
0
1
1		 0
1.
0
1.-
3
0.
0
9.
2
0
1
0		 0
1.
0
1.-
3
0.
0
9.
2
0
1
1		 0
1.
0
1.-
3
0.
0
9.
2
0
1
0		 0
1.
0
1.-
3
0.
0
9.
2
0
1
1		 0
1.
0
1.-
3
0.
0
9.
2
0
1
0
Eu
ro
mn
Ne
in
inc
t
te
t
res
om
e		 3
7
2		 3
3
8		 0 0 2
9		 3
2		 4
0
1		 3
7
0
A
l
low
for
d
i
los
t
an
ce
c
re
se
s		 7
8		 9
7		 7
8		 9
7
Ne
in
in
f
l
low
fo
d
i
lo
t
te
t
te
t
re
s
co
me
a
r a
an
ce
r c
re
ss
es		 2
9
4		 2
4
1		 0 0 2
9		 3
2		 3
2
3		 2
3
7
Ne
iss
ion
inc
t c
om
m
om
e		 -3 8
-		 1
3
2		 1
2
7		 3
0
-		 3
3
-		 9
9		 8
6
Ne
l
he
dg
ing
t r
t o
t
es
n
e a
cc
ou
n
u		 2 2 2 2
Ne
d
ing
inc
/ e
t
tra
om
e
xp
en
se
s		 1
4		 5
-		 1
4		 5
-
Re
l
fro
d
ing
ts
tra
ts
su
m
no
n-
a
ss
e		 -1
8		 1
0		 0 1 1
8
-		 1
1
fro
for
Re
l
ies
d
i
ts
te
t e
ty
su
m
co
mp
an
a
cc
ou
n
a
q
u		 5 1 1 5
Re
l
fro
inv
ies
ts
tm
t p
t
su
m
es
en
rop
er		 7 0 7 0
A
dm
in
is
ive
tra
t
ex
p
en
se
s		 1
5
9		 1
6
1		 1
2
2		 1
1
2		 1
-		 2
-		 2
8
0		 2
7
1
Ne
he
ing
inc
/ e
t o
t
t
r o
p
era
om
e
xp
en
se
s		 1
1
-		 7
-		 1 1 0 1
-		 1
0
-		 7
-
Im
irm
f g
dw
i
l
l
t o
p
a
en
oo		 0 0 0 0
Op
in
f
i
t
t
er
a
g
p
ro		 1
2
6		 7
7		 1
2		 1
7		 0 0 1
3
8		 9
4
Inc
tax
om
e
es		 3
6		 2
4		 3 5 3
9		 2
9
/
Ne
in
lo
t
co
me
ss		 9
0		 5
3		 9 1
2		 0 0 9
9		 6
5
A
l
lo
io
f r
l
t
ts
ca
n
o
es
u
/
Ne
inc
los
i
bu
b
le
l
l
ing
in
t
t
tr
ta
to
tro
te
ts
om
e
s a
no
n-c
on
res		 1
2		 1
2		 2 2 1
4		 1
4
Ne
inc
/
los
i
bu
b
le
ha
ho
l
de
f
Aa
l
Ba
k
A
G
t
t
tr
ta
to
om
e
s a
s
re
rs
o
rea
n		 7
8		 4
1		 7 1
0		 0 0 8
5		 5
1

Aareal Bank Group: Segment Reporting Key figures - quarter by quarter

Str
ed
Pr
tur
ert
uc
op
y
Fin
cin
an
g		 Co
ltin
/ S
ice
nsu
g
erv
s		 Co
lid
ati
/
nso
on
Re
ilia
tio
co
nc
n		 Aa
l B
k G
rea
an
rou
p
Q3 Q2 Q1 Q4 Q3 Q3 Q2 Q1 Q4 Q3 Q3 Q2 Q1 Q4 Q3 Q3 Q2 Q1 Q4 Q3
20
11		 20
11		 20
11		 20
10		 20
10		 20
11		 20
11		 20
11		 20
10		 20
10		 20
11		 20
11		 20
11		 20
10		 20
10		 20
11		 20
11		 20
11		 20
10		 20
10
Eu
ro
mn
Ne
t in
ter
est
in
com
e		 123 124 125 129 121 0 0 0 0 0 10 10 9 10 10 133 134 134 139 131
All
e fo
red
it lo
ow
anc
r c
sse
s		 36 24 18 8 32 36 24 18 8 32
Ne
t in
in
af
ter
est
ter
co
me		 87 100 107 121 89 0 0 0 0 0 10 10 9 10 10 97 110 116 131
all
fo
red
it l
ow
an
ce
r c
oss
es		 99
Ne
t c
mis
sio
n in
om
com
e		 4 2
-		 5
-		 1
-		 5
-		 45 43 44 49 39 11
-		 10
-		 9
-		 11
-		 -10 38 31 30 37 24
Ne
lt o
n h
edg
ing
t re
unt
su
e a
cco		 2 2 2
-		 4
-		 2
-		 2 2 2
-		 4
-		 2
-
Ne
adi
inc
e /
t tr
ng
om
ex
pen
ses		 20 2 8
-		 13 2 20 2 8
-		 13 2
Re
lts
fro
din
-tra
ts
su
m
non
g a
sse		 22
-		 2 2 23
-		 4
-		 0 1 -22 2 2 23
-		 3
-
Re
lts
fro
ani
su
m
co
mp
es		 0 0 1 1 0 0
ted
fo
uity
r at
acc
oun
eq		 0 0
Re
lts
fro
inv
est
nt
su
m
me		 3 2 2 17 0 3 2 2 17 0
rtie
pro
pe
s		 - -
Ad
min
istr
ativ
e e
xpe
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Revaluation reserveChange mainly driven by asset spreads

Development property finance portfolioDiversification continuously strengthened (in € mn)

Property finance under management

From asset to risk weighted asset (RWA) Essential factors affecting volume of RWA

1) Excl. of market risk

2) Exposure to Sovereigns amounts to € 17 mn

433) Exposure to investment shares amounts to € 4 mn

SoFFin support measures

SoFFin support measures Demonstration of strength and soundness

  • Aareal Bank was the first bank to start the repayment of the capital support provided by SoFFin
  • First tranche amounts to € 150 mn
  • Second tranche amounts to € 75 mn
  • Manageable size of remaining € 300 mn SoFFin participation

SoFFin support measuresKey terms

Silent participation

  • Volume1): € 300 mn in one tranche
  • Coupon: 9% (tax deductible)
  • Term: perpetual
  • Fully recognised as Tier 1 capital
  • Call rights: by Aareal Bank only, acc. to sec. 10(4)3 German Banking Law (KWG)
  • No dividend payments during 2009 and 2010 for preceding years
  • Additional remuneration: coupon increases on a pro rata basis by 0.5 pp for each ~0.18 € DpS2)
  • Subordination in case of liquidation and insolvency: junior to existing and future Tier 2 instruments (incl. Genussrechte/-scheine) and other debt; pari passu with existing tier 1 hybrids and future tier 1 hybrid offerings; senior to shareholders
  • Loss sharing: pari passu with all other instruments with loss participation; no dividend payment until full compensation of shared losses
  • 1) Original volume: € 525 mn, first repayment tranche of € 150 mn in July 2010, second repayment tranche of € 75 mn in April 2011
  • 462) Adjusted relative to the capital increase
  • 3) After early redemption of second bond and partial repurchase of first bond remaining volume down from € 4 bn

Government guarantee facility

  • Volume3): € 1,2 bn
  • Term: ≤36 months
  • Guaranteed obligations: bearer bonds
  • Drawdown period expired 31.12.2010
    • First bond: € 2 bn fully placed in 03/2009, € 800 mn partially tendered in 07/2011remaining € 1.2 bn maturing 26.03.2012
    • Second bond: € 2 bn onto own book 07/2010early redemption 04/2011(originally maturing 05.06.2013)
  • Commitment fee: 10 bp (for undrawn guarantee)
  • Drawdown fee:
  • -≤ 12 months: 50 bp p.a.
  • -> 12 months: 94.8 bp p.a.

Capital increase

Successfully completed rights issueGross proceeds of € 269.6 mn

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Shareholder structure

17 mn new shares guarantee a higher free float

50

Definitions and contacts

Definitions

Structured Property Financing Portfolio

  • Paid-out financings on balance sheet
  • Incl. remaining property loans on DEPFA books

New Business

  • Newly acquired business incl. renewals
  • Contract is signed by customer
  • Fixed loan value and margin
  • Core Tier I Ratio = Tier 1 capital ./. hybrids ./. SoFFin silent participation
  • Risk weighted assets
  • Pre tax RoE = Operating profit ./. Net income/loss attributable to non-controlling interests

Allocated (average) equity

Allocated Equity

Average of:

  • Equity (excluding minorities and revaluation surplus but including silent participation by SoFFin) start of period less dividends and
  • Equity (excluding minorities and revaluation surplus but including silent participation by SoFFin) end of period less expected dividends

CIR =Admin expenses Net income

Net income

net interest income + net commission income + net result on hedge accounting + net trading income + results from non-trading assets + results from investments accounted for at equity + results from investment properties + net other operating income

Contacts

Sebastian Götzken

Senior Manager Investor RelationsPhone: +49 611 348 [email protected]

Disclaimer

© 2011 Aareal Bank AG. All rights reserved.

  • This document has been prepared by Aareal Bank AG, exclusively for the purposes of a corporate presentation by Aareal Bank AG. The presentation is intended for professional and institutional customers only.
  • It must not be modified or disclosed to third parties without the explicit permission of Aareal Bank AG. Any persons who may come into possession of this information and these documents must inform themselves of the relevant legal provisions applicable to the receipt and disclosure of such information, and must comply with such provisions. This presentation may not be distributed in or into any jurisdiction where such distribution would be restricted by law.
  • This presentation is provided for general information purposes only. It does not constitute an offer to enter into a contract on the provision of advisory services or an offer to purchase securities. Aareal Bank AG has merely compiled the information on which this document is based from sources considered to be reliable – without, however, having verified it. Therefore, Aareal Bank AG does not give any warranty, and makes no representation as to the completeness or correctness of any information or opinion contained herein. Aareal Bank AG accepts no responsibility or liability whatsoever for any expense, loss or damages arising out of, or in any way connected with, the use of all or any part of this presentation.
  • This presentation may contain forward-looking statements of future expectations and other forward-looking statements or trend information that are based on current plans, views and/or assumptions and subject to known and unknown risks and uncertainties, most of them being difficult to predict and generally beyond Aareal Bank AG´s control. This could lead to material differences between the actual future results, performance and/or events and those expressed or implied by such statements.
  • Aareal Bank AG assumes no obligation to update any forward-looking statement or any other information contained herein.

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