Aareal Bank Group reported a consolidated operating profit of €120m in the second quarter of 2016, up 52 percent from the previous year. Consolidated net income allocated to ordinary shareholders increased by 59 percent y-o-y to €73m. New business generated in the Structured Property Financing segment, meanwhile, totaled €3.5bn for the quarter. The new business target for the 2016 fiscal year for €7-8bn, while Aareal Bank anticipates a consolidated operating profit of €300m to €330m for the year.
“Aareal Bank Group continues to show a very strong performance in a challenging market and competitive environment,” said Hermann Merkens, chairman of the management board. “We enjoy an excellent position in both our business segments, and we are pursuing our corporate strategy consistently, in order to ensure the durability of our success story for the future.”
