Deutsche Pfandbriefbank decides to exit the US market
German commercial real estate bank Deutsche Pfandbriefbank has announced that it will cease its operations in the United States due to economic and political uncertainties in the country.
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Deutsche Pfandbriefbank announced that its approximately $4.7 billion portfolio in the United States will either be sold or liquidated. The bank emphasized that it plans to focus solely on European markets following this move.
The statement also indicated that, following the decision to withdraw from the US, negotiations are underway for a German real estate investment company to acquire a majority stake. Bank officials also shared with the public that this strategic change could lead to a financial loss by the end of the year.
Deutsche Pfandbriefbank stated that the economic policies implemented under the administration of US President Donald Trump and political instability in the country were influential in this decision. The bank had previously announced in May that it was considering withdrawing from the US market.