Latest news with #propertyfinance
Yahoo
8 hours ago
- Business
- Yahoo
Germany's PBB withdraws guidance as it winds down US business
(Reuters) -Deutsche Pfandbriefbank, one of Germany's top property financiers, said on Wednesday that it was withdrawing its full year guidance amid extraordinary expenses from discontinuing its business in the United States. In the longer term, "the freed-up capital shall be used to accelerate bank's transformation," the lender said in a statement. PBB said in May that it would not take on new business in the United States as it considered the country too volatile under President Donald Trump. Wednesday's decision marks a major strategic shift for PBB. The U.S. is its second biggest market, making up 14% of its loan portfolio. In February, PBB forecast new business volume of between 6.5 billion and 7.5 billion euros for the 2025 financial year and said it expected its CET1 ratio to exceed 15.5%. In a separate statement on Wednesday, PBB said it was in advanced negotiations to acquire a majority stake in a real estate investment manager that it did not name, with the euro price expected to be in the "mid-double-digit millions." Shares were down 6% in premarket trade at 0615 GMT. Sign in to access your portfolio
Reuters
8 hours ago
- Business
- Reuters
Germany's PBB withdraws guidance as it winds down US business
June 18 (Reuters) - Deutsche Pfandbriefbank ( opens new tab, one of Germany's top property financiers, said on Wednesday that it was withdrawing its full year guidance amid extraordinary expenses from discontinuing its business in the United States. In the longer term, "the freed-up capital shall be used to accelerate bank's transformation," the lender said in a statement. PBB said in May that it would not take on new business in the United States as it considered the country too volatile under President Donald Trump. Wednesday's decision marks a major strategic shift for PBB. The U.S. is its second biggest market, making up 14% of its loan portfolio. In February, PBB forecast new business volume of between 6.5 billion and 7.5 billion euros for the 2025 financial year and said it expected its CET1 ratio to exceed 15.5%. In a separate statement on Wednesday, PBB said it was in advanced negotiations to acquire a majority stake in a real estate investment manager that it did not name, with the euro price expected to be in the "mid-double-digit millions." Shares were down 6% in premarket trade at 0615 GMT.
Zawya
21-05-2025
- Business
- Zawya
Nomo continues growth path with OMS Originations partnership
Nomo, the first digital Sharia-compliant cross border bank, has chosen OMS Originations from One Mortgage System (OMS) to further develop its digital platform and improve the Property Finance journey for customers and brokers. The improved platform will be available to new and existing customers in Summer 2025. The OMS Originations platform will streamline the whole end-to-end property finance origination journey for both the intermediary and direct submission routes improving visibility for both brokers and operations teams, showing real-time case status and enhancing service levels. Key features include AI-driven data extraction from bank statements, pre-filled applications, and integration with a digital valuation supplier to enable faster decisions and support straight-through processing. Additionally, the journey will incorporate a Decision in Principle, helping customers understand their borrowing capacity early on and establishing a clear connection between the client and Nomo. Neal Jannels, Managing Director of One Mortgage System, commented: 'We are delighted to be working with Nomo to power its origination system. The bank's commitment to innovation and customer-centric solutions aligns perfectly with OMS's mission to transform the mortgage technology landscape. With our cutting-edge platform, Nomo can continue delivering seamless, Sharia-compliant digital finance solutions while benefiting from an origination journey that is both streamlined and scalable. We look forward to a successful partnership that further enhances the property finance experience for all Nomo customers.' Emma Bilan, Senior Product Manager, Nomo, commented: 'Following a successful first two years for Nomo property finance, we're pleased to be taking the next step to create an improved digital journey for our customers and broker partners. Working with OMS will enable us to provide new features to clients and brokers including a Decision In Principle; a vital first step in their journey to owning a property in the UK. The partnership will also allow AI tools to be integrated into our platform, streamlining the entire property finance process. This will enable us to process applications more quickly, and allow more customers to benefit from the fantastic products Nomo offers.' T&Cs apply. Only available for properties in England and Wales. Nomo accounts are not currently available to UK residents. Your property may be at risk if you do not keep up the payments on your Nomo property. Nomo by Bank of London and The Middle East plc ('BLME') is a trading name of BLME. BLME is registered in England and Wales (no. 05897786), authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. BLME's Financial Services Register number is 464292 and registered office is at 20 Churchill Place, Canary Wharf, London E14 5HJ, United Kingdom. For further information please contact: OMS: Paul Hunt, Square 1 Media paul@ Neal Jannels, Managing Director, OMS Neal@ Nomo: Giulio Centurione, giuliocenturione@ About OMS One Mortgage System (OMS) is an all-encompassing CRM Platform and Loan Origination SAAS system that powers Brokers, Networks and Lenders. Features include: a CRM, audit trails, pre-population of documents, DIPs and full two-way integration with over 45 integrations. The platform allows encrypted document uploads, sourcing, ESIS, evidence of research, email and SMS updates, pre-underwriting, AVMs, credit searches and so much more to help saves hours of administration and processing times. The value of lending transacted by users of OMS in the first half of 2024 amounted to an average of £1.5bn per month. About Nomo Nomo is the world's first digital Sharia-compliant cross-border bank built for Middle Eastern customers who seek a global banking experience. It is part of Bank of London and The Middle East plc (BLME), a subsidiary of Boubyan Bank. Nomo makes international banking and investments easier for residents and citizens of the Middle East. Nomo is headquartered and built in the world's banking capital, London, and applies cutting-edge technology to innovative digital solutions for its customers. To know more, visit
Reuters
14-05-2025
- Business
- Reuters
Germany's PBB posts 17% profit drop but risk provisions shrink
FRANKFURT, May 14 (Reuters) - Deutsche Pfandbriefbank ( 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)
