WIESBADEN (dpa-AFX) - Germany's Aareal Bank Group (AAALF.PK) reported
Thursday that its third-quarter consolidated net income grew to 46 million euros
from previous year's 42 million euros.

Despite increased loss allowance for US office properties, Aareal Bank's
consolidated operating profit was 68 million euros, slightly above last year's
66 million euros.

Net interest income and net commission income were both up strongly in the third
quarter.

Net interest income climbed 35 percent from last year to 248 million euros. The
surge reflected a marked year-on-year increase in the portfolio volume and
strong margins.

Net commission income increased 13 percent to 76 million euros, mainly due to
ongoing revenue growth at Aareon.

Looking ahead for fiscal 2023, Aareal Bank Group continues to anticipate being
able to achieve consolidated operating profit at the lower end of the range
between 240 million euros and 280 million euros.

However, the environment remains challenging, and the impact of geopolitical and
macro-economic uncertainty remains difficult to estimate, it said.

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