Deutsche Pfandbriefbank

The Deutsche Pfandbriefbank share is under pressure ahead of an upcoming refinancing wave and amid high interest rates. Higher lending terms could improve net interest income, but the risk of loan defaults — and thus required risk provisions — is rising. pbb will publish nine-month figures on 12 November; investors will be watching the risk provision result in particular, and analysts see a test of the annual low around €2.80 as likely. » Altro su finanzen.net

An expected ECB key rate increase of 25 basis points would raise Deutsche Pfandbriefbank’s (pbb) interest margins, but would also increase credit risk and thus the need for risk provisions. Higher provisions weigh on profit in the short term but can reverse later if loan losses do not materialize; in H1 2026 pbb’s risk provisions were −13 million euros (H1 2025: −323 million). After a longer consolidation phase, pbb’s stock could benefit from a rate move with a price recovery, as it is currently in the lower half of its sideways trading range. » Altro su finanzen.net

After large write-downs in 2025 due to the US withdrawal, Deutsche Pfandbriefbank returned to profitability in Q1 2026 and showed signs of stabilization in Q2 as new business rose. CEO Kai Wolf expects a pre-tax profit of €30–40 million for 2026 and plans to diversify into data centers, hotels, and student and senior housing. Despite initial restructuring successes, risk remains high; the stock is considered deeply undervalued with a price-to-book ratio of 0.17, a fair value of 0.3 is mentioned if credit quality further improves, and Börse Online recommends buying with a price target of €5.50. » Altro su finanzen.net