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Pbb Slashes 2023 Profit Forecast by 50% Citing Persistent Weakness in CRE Markets

German Lender Almost Triples Risk Provisions to €104 Million
The Munich-based lender said pricing discovery is taking longer than expected. (Getty Images)
The Munich-based lender said pricing discovery is taking longer than expected. (Getty Images)

German property lender Pbb Deutsche Pfandbriefbank has slashed its full-year profit forecast by 50% citing “persistent weakness” in the commercial real estate market.

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News | Pbb Slashes 2023 Profit Forecast by 50% Citing Persistent Weakness in CRE Markets