Brief: Deutsche Pfandbriefbank Says It Will Completely Discontinue U.S. Business And To Sell, Securitise Or Respectively Run-Down Us Portfolio

Deutsche Pfandbriefbank AG

18/06/2025 07:05

June 18 (Reuters) - DEUTSCHE PFANDBRIEFBANK AG PBBG.DE:

DECIDED TO COMPLETELY DISCONTINUE PBB'S US BUSINESS AND TO SELL, SECURITISE OR RESPECTIVELY RUN-DOWN US PORTFOLIO

AMOUNTED TO APPROXIMATELY EUR 4.1 BILLION WITH RISK-WEIGHTED ASSETS (RWA) OF EUR 2.6 BILLION AND AN WEIGHTED AVERAGE REMAINING LEGAL MATURITY OF APPROXIMATELY 2.5 YEARS AS OF 31 MARCH 2025

FREED-UP CAPITAL SHALL BE USED TO ACCELERATE BANK'S TRANSFORMATION.

EXTRAORDINARY EXPENSES ARE EXPECTED, WHICH COULD LEAD TO AN ANNUAL LOSS IN 2025

WITHDRAWS ITS GUIDANCE FOR CURRENT FINANCIAL YEAR AS A PRECAUTIONARY MEASURE

DEUTSCHE PFANDBRIEFBANK AG - LL PUBLISH A NEW GUIDANCE FOR 2025 IN DUE COURSE BUT RECONFIRMS A CET1 RATIO OF AT LEAST 14 PERCENT SHALL BE MAINTAINED AT ALL TIMES. FURTHERMORE, PBB STICKS TO ITS MEDIUM-TERM TARGETS FOR 2027

Source text: ID:nEQ1cNXHza

Further company coverage: PBBG.DE

 (Gdansk Newsroom)

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