Latest

Aareal Bank: Aareon ensures price imagination

Aareal Bank’s pre-tax profit in the second quarter is considered a disappointment. The bank reports 2 million euros, the consensus was 9.7 million euros. Among other things, there was a write-off of 10 million euros for owner-occupied property, which has burdened the numbers.

The volume of new business fell from 3.2 billion euros to 2.7 billion euros. But it is considered solid in the pandemic times. The trough appears to have bottomed out in the second quarter.

For the analysts at DZ Bank, the buy recommendation for Aareal Bank shares remains. The price target increases from 19.00 euros to 21.50 euros.

Aareal Bank will initially not give a dividend. Here one follows the recommendations of the ECB. The analysts therefore no longer expect a payout for 2019.

The experts see a price driver at the bank in the sale of the minority stake in the IT subsidiary Aareon. That can bring new impulses.

Aareal Bank’s shares today lose 1.0 percent to EUR 18.74.

At a glance – chart and news: Aareal Bank

Tags

Related Articles

Back to top button
Close
Close