pbb reported a FY 2025 loss before tax of EUR 250 million, within its adjusted guidance, driven mainly by de-risking actions in the US (EUR 267 million impact) and existing German development NPLs (EUR 99 million). FY 2025 risk provisions totaled EUR 410 million. pbb said it ended December 2025 with a CET1 ratio of 14.9% and noted that conditions to service its AT1 instrument are met, while the “significant annual loss” provides no basis for a dividend. In Q4 2025, pbb posted a loss before tax of EUR 15 million, with net interest and commission income of EUR 99 million, realisation result of EUR 10 million and other income of EUR -3 million; administrative expenses were EUR 68 million and risk provisions EUR 54 million. On the business side, pbb said RE Finance Solutions new business rose to EUR 6.3 billion in FY 2025 (+23%), with a RoTE of around 8% for new business. The bank agreed an SRT transaction for a roughly EUR 1.7 billion performing US loan portfolio in Q4 2025, which it said released EUR 1.1 billion of RWAs and added around 120 basis points to CET1 at end-2025; it also reported a US NPL portfolio of EUR 0.9 billion at December 2025 with a coverage ratio of around 36%. pbb also said it completed the acquisition of Deutsche Investment, targeting around EUR 40 million of expected fee income in 2026, and guided for FY 2026 profit before tax of EUR 30 million to EUR 40 million while keeping its 8% RoTE target but shifting expected achievement to 2028.

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