German lender PBB’s shares plunge after S&P rating cut

 FRANKFURT (Reuters) – Shares in Deutsche Pfandbriefbank (PBB) dropped 7.5% on Thursday after a cut to its credit rating on concerns over the lender’s exposure to the commercial real estate sector.

The bank, which is one of Germany’s largest real estate financers, last week sought to reassure investors that it has enough funds to cope with a property slump that has cast a shadow over numerous lenders.

Ratings agency S&P cut PBB’s rating to BBB-/A-3 from BBB/A-2 late on Wednesday with a negative outlook, sending the bank’s shares down 7.5% in Frankfurt on Thursday morning.

“The negative outlook reflects our view that weak (commercial real estate) markets, notably in the U.S., could increase the cost of risk in PBB’s highly concentrated loan portfolio,” S&P said.


https://www.globalbankingandfinance.com/german-lender-pbbs-shares-plunge-after-sp-rating-cut/

Comments

Post a Comment

Popular posts from this blog

Digital Marketing Services: How to Make Smart Choices

  Digital marketing is the buzzword among the small business owners. Online marketing has gained recognition and importance. It is an effective way to reach out to your audience. Online marketing services help a company to penetrate into new markets and attain tremendous successes in the corporate field. In order to achieve best results, it is important to hire top notch digital marketing service providers. The SEO services offer organic techniques to your website, which helps to make it more visible to your target audience. It helps you to generate leads by getting more viewers, thereby increasing your sales and giving you more conversions. The best part about hiring a digital marketing service provider is that it helps to execute your search engine optimization strategy effectively. There are two main methods to implement this strategy, one is using paid link and second is content creation. PPC or pay per click advertisement is the most effective method of online promotion, bu...
Read more

How an election-packed 2024 could swing world markets

 LONDON (Reuters) — Countries making up over 60% of the world’s economic output and more than half of its population hold elections this year. Taiwanese voters on Saturday swept the ruling Democratic Progressive Party’s presidential candidate Lai Ching-te into power, rejecting Chinese pressure to spurn him. And on Monday, U.S. Republican presidential candidates face the party’s first nominating contest in Iowa. Here’s a look at key elections in focus for markets, in roughly chronological order. 1/ EUROPE Dates: March 10 (Portugal), June 9 (Belgium), June 6–9 (European Parliament), autumn/winter (Croatia), November (Romania), to be confirmed (Austria) https://www.globalbankingandfinance.com/how-an-election-packed-2024-could-swing-world-markets/
Read more

How to Effectively Use Social Media Images For Your Brand

  If you own or work in a media business, like many businesses these days, you know that social media plays a big role in getting your brand out there. It is the new "word of mouth" and helps in creating a buzz about your product, service or company. But although social media sites like Twitter and Facebook are very popular, they can actually be very bad for your brand if not managed correctly. One reason why they're so popular is because many people have them. However, using these social media images without proper data visualization tools can actually hurt your brand, and there are two main reasons why. The first reason is the i mage size - they are so large, they can take up a lot of space on your page, and that means fewer clicks on your ads. The second reason is poor data visualization - media images aren't as clear as text links so they can't be determined if they were clicked or not. The problem with media images is that many of them are simply glorified s...
Read more