German Lender PBB to Cut Back on Office Loans in Strategy Shift.

German real estate lender Deutsche Pfandbriefbank AG has announced plans to reduce its exposure to office loans and focus more on its European business. The bank aims to shift its focus towards more profitable and faster-growing segments such as data centers, senior living, logistics, and hotels. It also plans to distribute at least 50% of its profit after tax and AT1 coupons to shareholders until 2027, as well as conduct share buybacks. Deutsche Pfandbriefbank has been working to recover from concerns over its exposure to US commercial real estate and is looking to diversify its portfolio. [Extracted from the article]