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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Uma Rajagopal

    Posted on February 15, 2024

    Featured image for article about Top Stories

    German lender PBB’s shares plunge after S&P rating cut

    FRANKFURT (Reuters) – Shares in Deutsche Pfandbriefbank (PBB) dropped 7.5% on Thursday after a cut to its credit rating on concerns over the lender’s exposure to the commercial real estate sector.

    The bank, which is one of Germany’s largest real estate financers, last week sought to reassure investors that it has enough funds to cope with a property slump that has cast a shadow over numerous lenders.

    Ratings agency S&P cut PBB’s rating to BBB-/A-3 from BBB/A-2 late on Wednesday with a negative outlook, sending the bank’s shares down 7.5% in Frankfurt on Thursday morning.

    “The negative outlook reflects our view that weak (commercial real estate) markets, notably in the U.S., could increase the cost of risk in PBB’s highly concentrated loan portfolio,” S&P said.

    PBB declined to comment.

    (Reporting by Tom Sims; Editing by Diane Craft, Kirsti Knolle and David Goodman)

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