Germany's PBB posts 17% profit drop but risk provisions shrink

Deutsche Pfandbriefbank AG

14/05/2025 06:00

FRANKFURT, May 14 (Reuters) - Deutsche Pfandbriefbank PBBG.DE (PBB), one of Germany's top property financiers, on Wednesday posted a 17% drop in first quarter after-tax profit despite a decline in risk provisions.

The bank's quarterly post-tax profit was 24 million euros  ($26.9 million), compared with 29 million euros a year earlier. Provisions for loan losses fell to 26 million euros from 47 million euros a year earlier, even as it warned of unexpectedly volatile markets.

($1 = 0.8937 euros)

 (Reporting by Tom Sims
Editing by Ludwig Burger)

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