Germany's PBB posts slight quarterly profit gain, risk provisions rise

Deutsche Pfandbriefbank AG

14/05/2024 06:03

FRANKFURT, May 14 (Reuters) - Deutsche Pfandbriefbank
 PBBG.DE  (PBB), one of Germany's top property financiers,
posted a slight rise in first-quarter profit and an increase in
risk provisions as it navigates  troubles in the real-estate
industry.
    The bank's quarterly profit was 29 million euros ($31.27
million), compared with 27 million a year earlier, while
provisions for loan losses shot up to 47 million euros from 2
million euros last year, figures on Tuesday showed.

($1 = 0.9274 euros)

 (Reporting by Tom Sims and Alexander Huebner, Editing by Rachel
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