Germany's PBB warns of slow recovery in property as profit stagnates
Published by Global Banking & Finance Review®
Posted on February 27, 2025
1 min readLast updated: January 25, 2026
Published by Global Banking & Finance Review®
Posted on February 27, 2025
1 min readLast updated: January 25, 2026
Germany's PBB reports a slight profit drop in 2024, citing slow recovery in the property market and reduced loan loss provisions.
FRANKFURT (Reuters) - Deutsche Pfandbriefbank (PBB), one of Germany's top property financiers, on Thursday posted a slight drop in net profit in 2024 and warned that a recovery in real estate markets was slow.
The bank's annual net profit was 90 million euros ($94.19 million), compared with 91 million euros a year earlier, while provisions for loan losses fell to 170 million euros from 212 million euros a year earlier amid a "persistently difficult market".
"The recovery on the property markets is only making slow progress," CEO Kay Wolf said.
($1 = 0.9557 euros)
($1 = 0.9555 euros)
(Reporting by Tom Sims and Alexander Huebner, Editing by Friederike Heine)
Deutsche Pfandbriefbank reported a net profit of 90 million euros in 2024, slightly down from 91 million euros the previous year.
CEO Kay Wolf stated that the recovery in the property markets is only making slow progress.
Provisions for loan losses at PBB fell to 170 million euros from 212 million euros in the previous year.
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