Germany's PBB swings to profit in second quarter

FRANKFURT, Aug 13 (Reuters) - Deutsche Pfandbriefbank (PBB), one of Germany's top property financiers, disclosed on Thursday that it swung to profit in the second-quarter and said it was sticking to its 2026 guidance.

• The bank's quarterly net profit was €10 million ($11.5 million), compared with a €266 million loss a year earlier. It had posted a loss for all of 2025.

• The year-earlier quarter was especially weak after PBB decided to withdraw from the United States market, posting a high level of provisions.

• "The bank's transformation is well on track," said CEO Kay Wolf.

• The German commercial property sector has shown renewed weakness with a drop in prices in the second quarter.

($1 = 0.8677 euros)

(Reporting by Tom SimsEditing by Ludwig Burger)