Deutsche Pfandbriefbank AG (HAM:PBB)

Q3 2025 Deutsche Pfandbriefbank AG Earnings Call Transcript

Nov 13, 2025 / 10:59 AM GMT

Release Date Price: €4.02 (-4.01%)

Transcript

Key Points

Positve

Deutsche Pfandbriefbank AG (PBBGF) is making significant progress in its strategic transformation, aiming for a more profitable, diversified, and resilient bank by 2027.
The acquisition of Deutsche Investment Group is on track to close in early 2026, which will enhance the bank's real estate investment solutions business.
New business in commercial real estate financing is growing significantly, with a 60% increase in volume to EUR 4 billion in the first nine months.
The bank maintains a strong capital and liquidity position, with a CET1 ratio of 15.4% and a liquidity coverage ratio of 209%.
Operating expenses have been reduced, demonstrating effective cost management despite ongoing restructuring and transformation efforts.

Negative

The market environment remains challenging, with lower than expected transaction volumes and subdued market growth in Europe and Germany.
The bank's nine-month result before tax is EUR 235 million, which is not satisfactory given the strategic efforts and market conditions.
The exit from the US market and de-risking efforts are impacting the bank's financial results, with significant one-off risk charges affecting profitability.
The real estate finance portfolio is still shrinking, and the new European-focused business cannot fully compensate for the decline.
The cost-to-income ratio remains elevated at around 60%, reflecting the ongoing transition and restructuring efforts.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PBBG.DE - Deutsche Pfandbriefbank AG
Q3 2025 Deutsche Pfandbriefbank AG Earnings Call
Nov 13, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen, and welcome to the Deutsche Fan Briefbank A analyst call regarding its results for the 3rd quarter 2025.

At this time, all participants have been placed on a listen-only mode.

The floor will be open for questions following the presentation.

Let me now turn the floor over to your host Kai Wolf. Please go ahead.

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Unidentified_2 [2]
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Thank you very much. Ladies and gentlemen, I would like also very much welcome you to our analysts call this morning. Thanks very much for taking, the time

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