Q1 2023 Deutsche Pfandbriefbank AG Earnings Call Transcript
Good morning, ladies and gentlemen, and welcome to Deutsche Pfandbriefbank AG conference call regarding the preliminary results Q1 2023. (Operator Instructions)
Let me now turn the floor over to your host, Andreas Arndt.
Yes. Good morning, everybody. This is Andreas Arndt, Deutsche Pfandbriefbank, Munich. A very warm welcome to our analyst call covering the first quarter results. I hope you are well, and we'll walk you through the topics as we have been. And as usual, we close the meeting with a Q&A session with you.
When I look at the Q1 highlights, I see good progress in our strategic initiatives, which we announced around 9th of March with EUR 32 million PBT, we are in line with our full year guidance for '23. And the average gross portfolio margin increased, and we managed to keep risk provisions low while maintaining high stock of loan loss reserves. Also retail deposit volumes strongly increased.
As always, Q1 results include the full
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