Top News 2020/21
pbb’s Client Portal online
What has been going on at pbb in recent months?
Here is a small selection of the key news and events:
April 2020
Photo art at pbb
Architecture and Munich from unusual perspectives: pbb has close ties to both — and they have been on display at our company headquarters in Garching since April 2020. Until the end of 2021, our building will be home to an exhibition featuring Munich photographer Rainer Viertlböck‘s photo art. A total of almost 70 photographs, a number of which in large format, show off the buildings designed by star architect Helmut Jahn, who designed the Messeturm Frankfurt, the Highlight Towers in Munich and the Sony Center in Berlin. A second exhibition shows a special side to the city of Munich.
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May 2020
Virtual Annual General Meeting
The coronavirus pandemic means that events in person are restricted during the ‘AGM season’. For this reason, the German government allows virtual annual general meetings without the physical presence of shareholders or their authorised representatives. Out of consideration for the health of its shareholders and employees, pbb also decided to hold its Annual General Meeting on 28 May 2020 as a virtual event. The Annual General Meeting in 2021 was also be held in this form.
Shareholders participate via the internet. They are able to follow the Annual General Meeting live and can participate online in absentee voting, grant proxies and issue instructions or ask for responses to their questions.
September 2020
First SONIA-based Pfandbrief
SONIA stands for Sterling Overnight Index Average and is the name for the new reference interest rate set to replace the LIBOR. The GBP500 million Mortgage Pfandbrief successfully issued in September 2020 is linked to this reference rate. pbb was the first bank in continental Europe to use SONIA for a covered bond.
For pbb, the placement of the Mortgage Pfandbrief also marked the reopening of the capital markets for Mortgage Pfandbriefe denominated in pound sterling. This was the first time a Pfandbrief of this kind was issued, following the interruption of issuance activity as a result of the coronavirus pandemic since March 2020.
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Oktober 2020
pbb named Bank of the Year
The 10th CEE Investment Awards held by EuropaProperty in Poland saw pbb named as Bank of the Year. The annual awards are considered one of the most important real estate events in Central and Eastern Europe. As a result of the coronavirus pandemic, the event was held online and streamed live. The award recognised pbb’s achievements as a leading financial services provider in the real estate market, with key transactions in Central and Eastern Europe.
January 2021
Green bond in benchmark format
pbb successfully placed its first green bond on the market as an uncovered bond with a benchmark issue volume of €500 million. The five-year bond carries a coupon of 0.10 percent. The issue was very well received by a steadily growing number of sustainability investors: the order book totalled €1.3 billion, with almost 150 investors. The bond was also well accepted amongst international investors with them accounting for slightly more than 50 percent.
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March 2021
pbb’s Client Portal online
pbb’s Client Portal is online! The portal digitalises the customer interface in commercial real estate finance, for both new financing and existing loans. For clients, this means significantly higher transparency, efficient workflows and modern document management in line with the highest-level data protection standards.
The Client Portal is another milestone in pbb’s large-scale digitalisation initiative which seeks to further expand the portal and add functionality.