German property bank PBB expects full-year pretax loss as it exits US (updated)

Deutsche Pfandbriefbank AG

13/11/2025 06:17

Updates with details throughout

FRANKFURT, Nov 13 (Reuters) - Deutsche Pfandbriefbank PBBG.DE (PBB), one of Germany's top property financiers, on Thursday said its outlook was "cautious" for the fourth quarter as it braced for a full-year pre-tax loss.

The bank is in the midst of a costly exit from the U.S. market, where commercial real estate has come under severe pressure.

"The market environment remains challenging. Buyers and sellers are still cautious," said CEO Kay Wolf, as the bank presented its third-quarter earnings and outlook.

The bank predicted a pre-tax profit for the fourth quarter but said that for the full year it would post a pre-tax loss of between 210 million euros ($244.90 million) and 265 million euros.

For the third quarter, net profit dropped 56% to 15 million euros, compared with 34 million euros a year earlier, while provisions for loan losses were 33 million euros, compared with 37 million euros a year earlier.

($1 = 0.8575 euros)

 (Reporting by Tom Sims, Editing by Friederike Heine)

 ((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))