Pfandbrief Bank, a German bank specializing in real estate financing, announced its complete withdrawal from the US market due to economic and political instability. The bank plans to sell or liquidate its US portfolio valued at $4.7 billion, which may result in losses this year. The decision reflects a strategic shift towards more stable markets, focusing on Europe. CEO Kai Wolff emphasized the need for stability in economic and political environments, which he stated is currently lacking in the US. The bank’s US portfolio constituted 15% of its total lending, and concerns arose after a slowdown in the American real estate market.
— new from (جريدة البورصة)
