Germany property bank PBB swings to loss as it withdraws from US
ReutersAug 13, 2025 5:08 AM
FRANKFURT, Aug 13 (Reuters) - Deutsche Pfandbriefbank PBBG.DE (PBB), one of Germany's top property financiers, swung to a loss in the second quarter after booking higher risk provisions as it withdraws from the U.S. market, figures on Wednesday showed.
The bank's quarterly net loss was 266 million euros ($310.79 million), compared with 11 million euros in profit a year earlier, while provisions for loan losses rose to 297 million euros from 56 million euros a year earlier.
($1 = 0.8559 euros)
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