Deutsche Pfandbriefbank AG publishes 2025 annual report with EUR -250 million pre-tax loss

  • Pfandbriefbank said it decided to withdraw from the US real estate markets and is pursuing sales, securitizations, and run-off of the US portfolio.
  • A significant risk transfer was agreed with Oaktree, with a hedge for a tranche of the performing US portfolio of about USD 321 million and an underlying portfolio of about USD 2 billion.
  • The bank reported higher risk provisioning tied mainly to the US exit, which contributed to a loss for the period.
  • New business in commercial real estate finance was reported at EUR 6.3 billion, while financing volumes in real estate finance were EUR 27.3 billion at year-end.
  • Pfandbriefbank said it is expanding commission-based activities through the planned Real Estate Investment Solutions segment and completed the acquisition of a majority stake in Deutsche Investment Group with effect from January 2026.


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