Following a strong third-quarter performance, with pre-tax profit of EUR70 million, pbb increased profit before taxes for the first nine months of the year to EUR187 million (Q3 2018: EUR49 million / 9m 2018: EUR171 million; consolidated figures in accordance with IFRS, unaudited). On this basis, and especially in view of the fourth quarter, pbb resolved today to further raise its 2019 full-year guidance and now aims to achieve a pre-tax profit between EUR205 million and EUR215 million. In its most recent guidance, pbb had anticipated pre-tax profit at the upper end of the range between EUR170 million and EUR190 million, or slightly above. Similar to the previous year, the raised guidance incorporates for the fourth quarter considerably higher expenditure, together with stable net interest income. In particular, given persistent economic uncertainty, the bank anticipates adjusting risk provisioning. In addition - also in line with the fourth quarter of the previous year - regulatory and investment-related expenses will increase.




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Walter Allwicher
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