German bank Deutsche Pfandbriefbank's (PBB) shares decline over 3% amid U.S. commercial real estate market concerns and potential defaults.

On Friday, shares for German bank Deutsche Pfandbriefbank (PBB) continued their decline, dropping over 3%, amid concerns over the bank's exposure to the U.S. commercial real estate market. The decline follows an effort by the bank to reassure investors that it has enough funds to cope with a slump in the market. Recent challenges in the sector, including higher interest rates, refinancing difficulties, and lower office occupancy, have raised concern for potential defaults. PBB, which is heavily focused on the real estate industry, has experienced a 27% decline in shares so far this year.

February 09, 2024
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