Deutsche Pfandbriefbank

Deutsche Pfandbriefbank AG is a German financial institution that focuses on financing for public buildings and real estate. As of the end of 2016, it was included in the German small-cap stock market index SDAX. It is headquartered in Garching, a Bavarian town close to Munich. Pfandbriefe are bonds issued in Germany for the purpose of financing real estate.

PBB belonged to Hypo Real Estate (HRE), which the German government nationalized in the midst of the financial crisis of 2008. Since state aid to banks is illegal under EU law, it was spun off in 2015. Moody's gave it a rating through June of 2015.

The German government sold off a large portion of its investment in PBB to institutional investors through HRE in an expedited bookbuilding in May 2018, reducing its ownership from 20% to 3.5%. The sale brought in about 287 million euros ($339.7 million). The RAG Foundation, a German public sector trust, has acquired a 4.5% share.

Founded:
Headquarters: Garching, Munich (district), Upper Bavaria, Germany
Website: https://www.pfandbriefbank.com