WIESBADEN (dpa-AFX) - Aareal Bank affirmed its outlook for full-year 2019 consolidated operating profit of around 240 million euros. On a full-year basis, the Bank will thus have absorbed expenses of about 50 million euros for the accelerated de-risking of its portfolio.
Aareal Bank has reduced its aggregate risk exposure to Italy by around one-third or 1.3 billion euros during the financial year under review, to 2.7 billion euros.
The Bank said it reduced its volume of non-performing loans (NPLs) by around 40 per cent or 0.8 billion euros compared to the mid-year point, to 1.1 billion euros as at 31 December 2019.
Aareal Bank noted that it will outline further details of its further developed corporate strategy, including medium-term financial targets, when presenting its preliminary results for financial year 2019, on 26 February 2020.
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