Germany's PBB to focus more on Europe, less on offices in strategy revamp

Deutsche Pfandbriefbank AG

10/10/2024 09:43

FRANKFURT, Oct 10 (Reuters) - Deutsche Pfandbriefbank
 PBBG.DE  (PBB), one of Germany's top property financiers, on
Thursday announced a strategy overhaul that includes
diversifying its business model, as well as focusing more on
Europe and less on offices.
    PBB earlier this year was a visible sign of weakness in the
financial industry stemming from the property crisis in Germany
and a downturn in the United States, and has been navigating
what it has termed "the greatest real estate crisis since the
financial crisis".

 (Reporting by Tom Sims and Alexander Huebner
Editing by Miranda Murray)
 ((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))