Edition:
India

Deutsche Pfandbriefbank withdraws 2020 forecast on COVID-19 pandemic


Monday, 4 May 2020 

May 4 (Reuters) - Deutsche Pfandbriefbank AG ::DGAP-ADHOC: DEUTSCHE PFANDBRIEFBANK AG: PBB WITHDRAWS FORECAST FOR THE 2020 FINANCIAL YEAR.SAYS AGAINST BACKGROUND OF COVID-19 PANDEMIC, MANAGEMENT BOARD OF DEUTSCHE PFANDBRIEFBANK AG (PBB) RESOLVED TODAY TO WITHDRAW FORECAST FOR 2020 FINANCIAL YEAR.SAYS PBB WILL RECOGNISE NET RISK PROVISIONS OF EUR -34 MILLION FOR Q1 OF 2020 (Q1 2019: EUR -1 MILLION).SAYS PBB'S PRE-TAX PROFIT FOR Q1 OF 2020 WILL THUS DECLINE TO EUR 2 MILLION (Q1 2019: EUR 48 MILLION).