May 13, 2020 / 5:38 AM / 21 days ago

BRIEF-Property lender PBB says Q1 net profit down 95% due to COVID-19

May 13 (Reuters) - Deutsche Pfandbriefbank AG:

* SAYS Q1 NET PROFIT AT 2 MILLION EUR (VERSUS 40 MILLION YEAR-EARLIER)

* PBB SAYS ROE AT -0.3%

* PBB SAYS CET1 RATIO AT 16.3%

* PBB SAYS Q1 RISK PROVISIONS AT 34 MILLION EUR, THEREOF 32 MILLION INDUCED BY COVID-19 PANDEMIC

* PBB SAYS WIDENED CREDIT SPREADS HAVE TURNED NET INCOME FROM FAIR VALUE MEASUREMENT NEGATIVE -17 MILLION EUR, OF WHICH 13 MILLION WAS ATTRIBUTABLE TO COVID-19

* PBB SAYS BANK EXPECTS STABLE OPERATING PERFORMANCE IN TERMS OF NET INTEREST INCOME AND GENERAL AND ADMINISTRATIVE EXPENSES FOR 2020

* PBB SAYS CHANGED SITUATION ON REAL ESTATE MARKETS DURING Q1 DUE TO COVID-19 DID NOT YET HAVE MATERIAL IMPACT ON NEW BUSINESS VOLUME IN COMMERCIAL REAL ESTATE FINANCE Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below