Latest news with #KayWolf
Bloomberg
6 days ago
- Business
- Bloomberg
German Bank PBB Drops as It Takes €314 Million Hit on US Exit
Deutsche Pfandbriefbank AG 's shares dropped as it booked €314 million ($367 million) in charges on its decision to get out of the US. That move 'will have a considerable negative impact on our result this year,' Chief Executive Officer Kay Wolf said in an earnings statement on Wednesday. 'Our continued strong capital ratio shows that we can shoulder this strategic decision well.'
Bloomberg
14-05-2025
- Business
- Bloomberg
German Bank PBB Reviews US Business Citing Political Instability
German real estate lender Deutsche Pfandbriefbank AG said it has put its US business under review as a result of the country's lack of political stability. 'A prerequisite for our business activities is the stability of economic and political conditions. Neither is currently the case in the USA,' Chief Executive Officer Kay Wolf said in an earnings statement on Wednesday.
Reuters
27-02-2025
- Business
- Reuters
Germany's PBB warns of slow recovery in property as profit stagnates
FRANKFURT, Feb 27 (Reuters) - Deutsche Pfandbriefbank ( opens new tab (PBB), one of Germany's top property financiers, on Thursday posted a slight drop in net profit in 2024 and warned that a recovery in real estate markets was slow. The bank's annual net profit was 90 million euros ($94.19 million), compared with 91 million euros a year earlier, while provisions for loan losses fell to 170 million euros from 212 million euros a year earlier amid a "persistently difficult market". "The recovery on the property markets is only making slow progress," CEO Kay Wolf said. ($1 = 0.9557 euros) ($1 = 0.9555 euros) Get a look at the day ahead in European and global markets with the Morning Bid Europe newsletter. Sign up here.
