Germany's PBB warns of slow recovery in property market

Deutsche Pfandbriefbank AG

27/02/2025 06:00

FRANKFURT, Feb 27 (Reuters) - Deutsche Pfandbriefbank PBBG.DE (PBB), one of Germany's top property financiers, on Thursday posted a rise in 2024 pretax profit and a decline in risk provisions, but warned that the recovery in real estate markets was slow.

The bank's annual pretax profit was 104 million euros  ($108.83 million), compared with 90 million euros a year earlier, while provisions for loan losses fell to 170 million euros from 212 million euros a year earlier amid a "persistently difficult market".

($1 = 0.9557 euros)

 (Reporting by Tom Sims, Editing by Friederike Heine)

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