WIESBADEN (dpa-AFX) - Aareal Bank AG (AAALF.PK) reported Tuesday that its consolidated net income for the first quarter surged to 21 million euros from 7 million euros last year.
Net income attributable to shareholders of the Group rose to 16 million euros from 2 million euros, and earnings per share grew to 0.27 euro from 0.04 euro last year. Consolidated operating profit for the quarter increased to 32 million euros from 11 million euros last year.
Net interest income for the quarter increased by 12 percent to 138 million euros, primarily due to the expansion of the credit portfolio.
Looking ahead to the full year, the Group confirmed its outlook and said it continues to expect consolidated operating profit in the range of 100 million - 175 million euros. Earnings per share is expected to be in the region of 0.70 - 1.50 euro. Net interest income for the full year is expected to be in the range of 550 million - 580 million euros.
Copyright RTT News/dpa-AFX