Aareal Bank

Aareal Bank says it will actively review strategic options, including an IPO, a sale to strategic or financial investors, or the takeover of another bank; reports indicate there were talks about a possible takeover of Hamburg Commercial Bank. CEO Christian Ricken says initial preparations for an IPO are already underway. As a safeguard the bank has created an additional €160 million risk provision, which, according to risk board member Nina Babic, is largely not based on bad loans. Operating income for the first nine months fell to €143 million (previous year €306 million); the NPL portfolio stood at around €1.2 billion, about half of which is in the exit process with a prospect of falling below €1 billion by year-end. » Mere på handelsblatt.com

According to insiders, Aareal Bank is in talks about a possible takeover of Hamburg Commercial Bank; a deal could be completed this year but is uncertain. HCOB investors such as Cerberus are working with advisers on a sale, while Aareal’s owners Advent and Centerbridge support the discussions and are considering a dual-track approach. A process could start next year and could result in either a sale or an IPO of Aareal. In the first half, Aareal Bank’s net profit fell to €126m (down 5%), while HCOB’s rose to €168m (up by more than one fifth). » Mere på handelsblatt.com

CEO Christian Ricken says a return of Aareal Bank to the stock market is possible and names an IPO as an exit route. Alternatively, a sale to strategic investors is conceivable after a consortium led by Advent International and Centerbridge took the bank private in 2023. Ricken described Aareal Bank as an attractive, highly profitable business for potential buyers. » Mere på handelsblatt.com