Deutsche Pfandbriefbank AG to Exit US Market

Deutsche Pfandbriefbank AG (pbb) has announced plans to exit its US market operations. The decision was made by the firm's Management and Supervisory Boards, aiming to sell, securitise, or run down its US portfolio valued at approximately EUR 4.1 billion. The portfolio includes risk-weighted assets of EUR 2.6 billion and has an average remaining legal maturity of 2.5 years as of March 2025.

The exit is part of a broader strategy to accelerate the bank's transformation. This decision will incur extraordinary expenses, potentially leading to a loss for the year 2025. Accordingly, pbb has withdrawn its guidance for the current financial year but plans to issue a new one in due course. The bank maintains its commitment to a CET1 ratio of no less than 14% and reaffirms its medium-term goals for 2027.