pbb Deutsche Pfandbriefbank is a leading European specialist bank for real estate and public investment finance.

pbb is part of the HRE Group which has been 100 percent owned by the German government since October 2009. The bank is present in about a dozen national and international locations and its registered headquarters is in Munich.

History

Deutsche Pfandbriefbank AG was formed in June 2009 when both Pfandbriefbanks, Hypo Real Estate Bank AG and DEPFA Deutsche Pfandbriefbank AG, were merged and the name was changed. Previously, in November 2008, both real estate banks within the Group, Hypo Real Estate Bank International AG and Hypo Real Estate Bank AG, had also been merged.

The HRE Group itself came into being in September 2003 following the spin-off  of parts of the commercial real estate financing of the HVB Group.

In October 2007, HRE Holding acquired the Irish DEPFA Bank plc together with all its subsidiaries, including DEPFA Deutsche Pfandbriefbank AG.