As pre-released on 27 July, Deutsche Pfandbriefbank AG (pbb) has increased profit and new business in the second quarter of 2021, generating a pre-tax profit of €62 million for the second quarter and €114 million for the first half of 2021 (consolidated figures in accordance with IFRS, reviewed by external auditors). pbb has thus exceeded not only the previous quarter and the same quarter of the previous year, but also the first half of 2020 (Q1 2021: €52 million, Q2 2020: €28 million, H1 2020: €30 million). Based on the solid business development and despite some remaining uncertainty regarding potential risk provisioning requirements, pbb had raised its full-year guidance on pre-tax profit significantly at the end of July, to a result between €180 million and €220 million. In the second quarter of 2021, pbb increased net interest and commission income to €126 million, and to €251 million in the first half of the year (Q2 2020: €117 million, €H1 2020: €230 million)….
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