Deutsche Pfandbriefbank AG (XSWX:PBB)

Q3 2024 Deutsche Pfandbriefbank AG Earnings Call Transcript

Nov 13, 2024 / 10:00 AM GMT

Transcript

Key Points

Positve

Deutsche Pfandbriefbank AG (WBO:PBB) increased its operating result by 2.4% to EUR 425 million in the first nine months of 2024.
Net interest income rose to EUR 359 million, benefiting from a focus on profitable new business with higher margins.
Pre-provision profit increased by 16% to EUR 227 million, allowing for well-covered risk provisioning.
The company remains on track to fulfill its financial guidance for the year.
Deutsche Pfandbriefbank AG is implementing Strategy 2027, focusing on diversifying its portfolio and increasing efficiency through technology and AI.

Negative

Pretax profit decreased slightly to EUR 87 million from EUR 91 million in the same period last year.
The CRE market shows no sustainable turnaround yet, with heightened uncertainty and market volatility.
The company's revenue business volume is expected to be slightly below initial guidance, at EUR 5.5 billion for the full year.
Risk provisions remain elevated, particularly due to US office loans and German development loans.
The cost-income ratio is expected to rise temporarily to 50% by year-end due to IT and strategic investments.

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

PBBG.DE - Deutsche Pfandbriefbank AG
Q3 2024 Deutsche Pfandbriefbank AG Earnings Call
Nov 13, 2024 / 10:00AM 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 Vanquis A G conference call regarding its nine months results 2024. 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 Cairo CEO of PB B. Deutsche Van Bank.

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Unidentified_2 [2]
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Thank you very much. Ladies and gentlemen, a warm welcome to our analyst and investor call. I'm very much looking forward to taking you through the facts, figures and data for the third

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