Germany-based Aareal Bank AG (AAALF.PK) reported Thursday that its fourth-quarter consolidated net income attributable to ordinary shareholders climbed to 60 million euros from last year's 33 million euros. Consolidated operating profit amounted to 92 million euros, higher than 86 million euros a year ago. Net interest income stood at 198 million euros, compared to 194 million euros last year. Allowance for credit losses amounted to 42 million euros, compared to 41 million euros. Further, the company said its Management Board and the Supervisory Board will propose to the Annual General Meeting a 38 percent increase in the dividend per share to 1.65 euros. Looking ahead, for fiscal 2016, Aareal Bank said it sees good opportunities to achieve consolidated operating profit of between 300 million euros and 330 million euros, of which the upper end slightly exceeds the past year. Earnings per share is expected between 2.85 euros and 3.19 euros. Net interest income is expected to decline to a range between 700 million euros and 740 million euros. Aareal Bank expects the market and competitive environment to remain very challenging during the current financial year. In spite of the uncertainties and challenges ahead, Aareal Bank Group remains generally optimistic for the 2016 financial year. For comments and feedback contact: editorial@rttnews.com Business News
Aareal Bank - 4Q15 consolidated net income of €60m ($66m), up from €33m ($36m) last year. Aareal Bank plans to continue to distribute an ordinary dividend of about 50% of earnings per share for financial years from 2016 onwards. It added that it expects the market and competitive environment to remain very challenging during the current financial year.