Edition:
United Kingdom

Pfandbriefbank Says New Business Reduced Due To Difficult Environment


Monday, 14 May 2018 

May 14 (Reuters) - Deutsche Pfandbriefbank AG ::SAYS Q1 PRETAX PROFIT 48 MILLION EUR.SAYS NEW BUSINESS REDUCED DUE TO DIFFICULT ENVIRONMENT.SAYS NET INTEREST INCOME UP STRONGLY, FROM €97 MILLION TO €107 MILLION – THANKS TO MORE FAVOURABLE FUNDING CONDITIONS AND HIGHER STRATEGIC PORTFOLIO VOLUME.SAYS GENERAL AND ADMINISTRATIVE EXPENSES LOWERED TO €44 MILLION – NO RISK PROVISIONING REQUIRED.SAYS GIVEN THAT CREDIT AND REAL ESTATE MARKETS REMAIN CHALLENGING, WE RETAIN RISK-CONSERVATIVE STANCE AS WELL AS CAUTIOUS OUTLOOK.