Banks – Munich – Deutsche Pfandbriefbank is still looking ahead to 2021 – Bavaria
Banks – Munich:Deutsche Pfandbriefbank is becoming even more confident about 2021
Directly from the dpa news channel
Munich (dpa) – In view of the economic recovery from the Corona crisis, Deutsche Pfandbriefbank is once again more optimistic for the current year. CEO Andreas Arndt now expects a pre-tax profit for 2021 at the upper end or slightly above the range of 180 to 220 million euros, which was raised in July, as the institute, which is listed in the SDax small-cap index, announced on Friday in Munich. “We are pleased with the development of pbb, which exceeds our expectations at the beginning of the year and allows us to come close to the good level before the Covid-19 pandemic,” he said.
In the third quarter, the pre-tax profit fell from 74 to 72 million euros due to a slightly higher risk provision for possible loan defaults. The bottom line was that the bank earned 61 million euros thanks to a lower tax burden, a fifth more than in the same period of the previous year.
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