Deutsche Pfandbriefbank AG: Due to Expected Sound Performance over the First Six Months of This Year, pbb Raises 2018 Full-Year Guidance for Pre-Tax Profit to EUR175-195 Million

Due to expected sound performance over the first six months of this year, pbb raises 2018 full-year guidance for pre-tax profit to EUR175-195 million

MUNICH--()--As the first half of the year is expected to show sound performance, the Management Board of Deutsche Pfandbriefbank AG (pbb) has today raised its original expectations for 2018 consolidated full-year pre-tax profit (IFRS) of between EUR150 million and EUR170 million to between EUR175 million and EUR195 million. The new guidance includes, as planned, increased pressure on net interest income as well as an increase in general and administrative expenses; furthermore, it continues to factor in estimated risk costs for the full year.

pbb expects profit before taxes in the region of EUR120 million for the first half of 2018. For the second quarter of 2018, pbb sees stable net interest income, continued low risk costs and general and administrative expenses on the good previous quarter's level. In addition, a non-recurring effect was recognised from a conditional additional purchase price claim in connection with accepting a buy-back offer for Heta Asset Resolution AG debt securities in 2016.

Compared to the first quarter, new business volume (including extensions of more than one year) rose slightly in the second quarter of 2018. However, due to strong competitive pressure and pbb's selective approach, new business during the first half of the year remained significantly below the previous year's level.

Language: English

Company: Deutsche Pfandbriefbank AG Freisinger Strasse 5 85716 Unterschleissheim Germany

Phone: +49 (0) 89 2880 28 201

Fax: +49 (0) 89 2880 22 28 201

E-mail: info@pfandbriefbank.com

Internet: http://www.pfandbriefbank.com

ISIN: DE0008019001, Die internationalen Wertpapierkennnummern (ISIN) weiterer von der Deutsche Pfandbriefbank AG ausgegebener Finanzinstrumente sind abrufbar auf der Website der Deutsche Pfandbriefbank AG unter https://www.pfandbriefbank.com/investoren/pflichtveroeffentlichungen/ad-hoc-mitteilungen/liste-weiterer-finanzinstrume-nte.html. The International Securities Identification Numbers (ISINs) of further, financial instruments issued by Deutsche Pfandbriefbank AG are available on Deutsche Pfandbriefbank's Investor Relations website under https://www.pfandbriefbank.com/en/investors/mandatory-publications/ad-hoc-announcements/list-of-further-financial-inst-ruments.html

WKN: 801900

Indices: MDAX

Listed: Regulated Market in Frankfurt (Prime Standard), Munich, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover; London, Dublin, Mailand, Paris, Luxembourg Stock Exchange, SIX

Contacts

Deutsche Pfandbriefbank
Name:Walter Allwicher
Head of Communications
Tel:089 / 2880 28 787
+49 (0) 89 2880 28 787
Email:Walter.Allwicher@pfandbriefbank.com

Contacts

Deutsche Pfandbriefbank
Name:Walter Allwicher
Head of Communications
Tel:089 / 2880 28 787
+49 (0) 89 2880 28 787
Email:Walter.Allwicher@pfandbriefbank.com