German lender Aareal reported €10.5 bn of new business in the Structured Property Financing segment for 2013, reaching its highest level since 2007.

German lender Aareal reported €10.5 bn of new business in the Structured Property Financing segment for 2013, reaching its highest level since 2007.

The stronger performance was achieved against the background of a more active transaction environment, characterised by higher liquidity than originally expected, the lender noted. This offered more new business opportunities, but it was associated with higher loan repayments.

'We outperformed our original targets in our 90th anniversary year, and we are in an excellent position to maintain this positive development into the future,' commented CEO Wolf Schumacher.

Operating profit in the Structured Property Financing segment totalled €209 mln in 2013 versus €170 mln a year earlier. The financial group is expecting new business of between €8 bn and €9 bn for the segment in 2014.

According to preliminary, unaudited figures, consolidated operating profit for Aareal increased to €198 mln, up 12% year-on-year compared to €176 mln in 2012.

Net interest income rose considerably in the year to €527 mln versus €486 mln a year before.

The bank is proposing a dividend for 2013 of €0.75 per share.