WIESBADEN (dpa-AFX) - Aareal Bank AG (AAALF.PK), a German lender, on
Wednesday reported an increase in first-quarter profit, compared to the prior
year. The company expects a significant rise in earnings per share for the full
year.

The quarterly earnings were 63 million euros or 1.05 euros per share, compared
with 47 million euros or 0.78 euro per share for the same period last year.

Net interest income stood at 254 million euros as against 222 million euros in
2023, due to an increase in the credit portfolio, good margins as well as the
impact of higher interest rates on the enlarged volume of deposits.

Net commission income was 86 million euros, compared with 72 million euros a
year ago.

Administrative expenses moved down to 147 million euros from last year's 199
million euros.

Looking ahead to the full year, Aareal Bank expects to record operating profit
of 300 million euros to 350 million euros with a significant rise in earnings
per share.

For the previous year, the lender had posted an operating profit of 149 million
euros.



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