Deutsche Pfandbriefbank AG (OTCPK:PBBGF)

Q2 2026 Deutsche Pfandbriefbank AG Earnings Call Transcript

Aug 13, 2026 / 09:00 AM GMT

Release Date Price: $3.9

Transcript

Key Points

Positve

Deutsche Pfandbriefbank AG (PBBGF) increased new business volume by 18% to EUR 3.1 billion in H1 2026, with a strong share of new commitments at 67%.
The bank reduced its U.S. non-performing loans by more than 40% since the start of the year to EUR 500 million, with no new NPLs added.
CET1 ratio rose by around 120 basis points to 14.6%, driven by favorable regulatory adjustments and active portfolio management reducing risk-weighted assets by EUR 1.6 billion.
Real Estate Investment Solutions segment achieved a pre-tax profit of EUR 2 million in Q2, with fee-based income now exceeding 10% of total operating income.
The bank's funding plan for 2026 is almost complete, with over 85% of funding needs covered and a new Moody's rating added to expand investor coverage.
Risk provisioning remained normalized at EUR 11 million in Q2, with no additional risk costs for the U.S. or development portfolio.

Negative

European NPL portfolio increased by around EUR 200 million in Q2, driven by three new office loan additions of approximately EUR 300 million.
The bank acknowledged it is 'not satisfied' with the European NPL development, which remains a key concern despite being labeled idiosyncratic.
Net interest income (NII) declined by EUR 3 million quarter-over-quarter, partly due to pre-funding activities and a lower investment portfolio.
Geopolitical tensions, particularly the Middle East conflict, have led to downward revisions in European growth forecasts and rising inflation, creating market uncertainty.
The office asset class continues to experience stress, with the bank expecting this trend to persist for the foreseeable future.
Unsecured wholesale funding spreads widened by 38 basis points year-to-date, increasing funding costs despite overall lower levels than in prior years.

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

PBBG.DE - Deutsche Pfandbriefbank AG
Q2 2026 Deutsche Pfandbriefbank AG Earnings Call
Aug 13, 2026 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Thank you very much, ladies and gentlemen. A warm welcome to our analyst call on the results of the second quarter of 2026. Thanks very much for taking the time once again, as in generally, in particular in Europe, a very hot summer in the middle of it, and maybe there's even more to come for reviewing PPB second quarter and therefore also the half year results. Our CFO, Markus Schulte, and I will guide you through the key developments of the past quarter and the IFRS key figures for the PBB group. Afterwards, as always, we will have plenty of time reserved for your questions.

Ladies and gentlemen, all of you follow global developments and their effects on markets on a daily basis.

Volatility, again.

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