Deutsche Pfandbriefbank

Deutsche Pfandbriefbank AG (pbb) is a German-listed bank specializing in two core business segments: Commercial Real Estate Finance (REF) and Public Investment Finance (PIF). In its real estate financing activities, pbb focuses on medium-to-large-scale projects in Germany, the UK, France, the Nordics, and other select European countries. The Public Investment Finance segment supports public sector entities by financing essential infrastructure projects, such as public housing, utilities, and transportation. The bank plays a crucial role in the German financial system through its issuance of Pfandbriefe (German covered bonds), for which it is one of the largest issuers, to fund its lending operations. Its history traces back to the nationalization and restructuring of Hypo Real Estate Holding AG in the wake of the 2008 financial crisis.