Q2 2023 Deutsche Pfandbriefbank AG Earnings Call Transcript
Ladies and gentlemen, dear all. Thank you very much for dialing in and a very warm welcome to our analyst call regarding PBB's second quarter and half year results for 2023. I'm happy to walk you through the key developments, and we will have our usual Q&A session thereafter. The environment remained challenging in Q2, especially for the real estate markets in Germany, in Europe and in U.S. and the U.K. At the same time, interest rates continued to rise also in the second quarter. Inflation kept high and some economies are at the edge of recession. Yet despite all that, PBB remains on track. PBT was EUR 81 million for the first half. On this basis, we are happy to confirm our full year guidance of EUR 170 million to EUR 200 million for 2023. As you know, the bank that we were fully booked in Q1, no further effects in the second half of '23. And looking ahead, we expect the second half to benefit from increasing NII dynamics. Also potential risk provisioning should benefit from our solid stock of provisions and
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