Deutsche Pfandbriefbank Q1 new business in commercial real estate financing up 18%

Deutsche Pfandbriefbank AG

12/05/2026 06:25

Overview

Germany commercial real estate lender's Q1 new business rises 18% yr/yr to €1.3 bln

Q1 pre-tax profit drops to €6 mln, in line with management expectations

Fee income rises on Deutsche Investment consolidation; operating income and cost-income ratio worsen

Outlook

Deutsche Pfandbriefbank confirms annual targets despite a more challenging market environment

Company says it has a well-equipped transaction pipeline for commercial real estate financing

Liquidity position and CET1 ratio remain robust and in line with guidance

Result Drivers

NEW BUSINESS GROWTH - Co said Q1 new business in commercial real estate financing rose 18%, supported by a strong transaction pipeline

FEE INCOME INCREASE - Fee income rose significantly due to the first-time consolidation of Deutsche Investment

RISK CHARGES FALL - Risk charges fell sharply after the initiated US exit, as loan loss provisions for the US portfolio were released, though this was offset by charges from non-performing US loans

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Pretax Profit
EUR 6 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Deutsche Pfandbriefbank AG is €3.40, about 0% even its May 11 closing price of €3.40

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 5 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)