Deutsche Pfandbriefbank AG

Latest Results (14.08.2024):

Profit Before Tax

In the first quarter of 2024, Deutsche Pfandbriefbank AG reported a profit before tax of €34 million, which is an increase from €32 million in the same period of the previous year. This growth was driven by a significant rise in net interest income and the absence of charges from the European bank levy, despite higher risk provisioning expenses.

Net Interest Income

Deutsche Pfandbriefbank AG's net interest income for Q1 2024 rose sharply to €125 million, up from €106 million in Q1 2023. This increase was primarily due to a higher average volume in commercial real estate financing and an improved portfolio margin, which offset the non-recurring present value effect from the TLTRO III refinancing modification in the previous year.

Net Income from Realisations

For the first quarter of 2024, Deutsche Pfandbriefbank AG reported net income from realisations of €23 million, compared to €14 million in Q1 2023. This increase was mainly due to income from the sale of financial assets in the non-strategic Non-Core segment and the derecognition of financial liabilities.

Risk Provisioning

Deutsche Pfandbriefbank AG significantly increased its risk provisions in Q1 2024, with net income from risk provisioning at €-47 million, compared to €-2 million in Q1 2023. This increase reflects the challenging environment in the real estate markets, necessitating higher provisions for potential risks.

Equity and Total Assets

As of 31 March 2024, Deutsche Pfandbriefbank AG's total assets stood at €48.9 billion, down from €50.9 billion at the end of 2023. The equity remained stable at €3.4 billion, indicating a steady financial position despite the volatile market conditions.