Germany property bank PBB swings to loss as it withdraws from US

Deutsche Pfandbriefbank AG

13/08/2025 06:08

FRANKFURT, Aug 13 (Reuters) - Deutsche Pfandbriefbank PBBG.DE (PBB), one of Germany's top property financiers, swung to a loss in the second quarter after booking higher risk provisions as it withdraws from the U.S. market, figures on Wednesday showed.

The bank's quarterly net loss was 266 million euros  ($310.79 million), compared with 11 million euros in profit a year earlier, while provisions for loan losses rose to 297 million euros from 56 million euros a year earlier.

($1 = 0.8559 euros)

 (Reporting by Tom Sims, editing by Miranda Murray)

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