Brief: Deutsche Pfandbriefbank AG - Q4 Nii At EUR 134 Million

Deutsche Pfandbriefbank AG

07/03/2024 06:14

March 7 (Reuters) - DEUTSCHE PFANDBRIEFBANK AG
 PBBG.DE :
    * Q4 NII AT EUR 134 MILLION
    * Q4 NET INCOME AT EUR 14 MILLION
    * EXPECTS TO GENERATE NEW BUSINESS OF BETWEEN EUR 6 BILLION
AND
EUR 7 BILLION DURING CURRENT FINANCIAL YEAR
    * TARGETS A COST/INCOME RATIO OF BELOW 45% BY 2026
    * FY NII AT EUR 482 MILLION
    * FY NET INCOME AT EUR 91 MILLION
    * FY PROVISIONS FOR LOAN LOSSES AT EUR 212 MILLION
    * HAS DECIDED NOT TO DISTRIBUTE A DIVIDEND FOR THE FINANCIAL
YEAR
2023 BUT TO RETAIN ITS PROFIT INSTEAD
    * COST-CUTTING MEASURES ARE EXPECTED TO SHOW NOTABLE EFFECTS
FROM
2025 ONWARDS
    * OVERALL SITUATION REMAINS CHALLENGING AND PBB EXPECTS
PRICES IN
THE US TO DECLINE FURTHER IN THE FIRST SIX MONTHS OF 2024, WHILE
PRICE DROPS IN EUROPE ARE LIKELY TO BE MORE MODERATE, AS IN 2023
    * PBB IS IN A FAR BETTER POSITION THAN ITS RECENT
PERFORMANCE ON
THE CAPITAL MARKETS MIGHT SUGGEST
    * AT THE SAME TIME, WE ARE WELL AWARE OF THE NEED TO WIN
BACK
TRUST

Further company coverage:  PBBG.DE 

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