Germany's PBB posts 17% profit drop but risk provisions shrink
FRANKFURT, May 14 (Reuters) - Deutsche Pfandbriefbank (PBBG.DE), opens new tab (PBB), one of Germany's top property financiers, on Wednesday posted a 17% drop in first quarter after-tax profit despite a decline in risk provisions.
The bank's quarterly post-tax profit was 24 million euros ($26.9 million), compared with 29 million euros a year earlier. Provisions for loan losses fell to 26 million euros from 47 million euros a year earlier, even as it warned of unexpectedly volatile markets.
($1 = 0.8937 euros)
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