Deutsche Pfandbriefbank is a banking institution located in Unterschleissheim, Germany. The bank was formed in June 2009 when Pfandbriefbanks, Hypo Real Estate Bank and DEPFA Deutsche Pfandbriefbank were merged to form Deutsche Pfandbriefbank. The institution is a part of HRE Group, which has been wholly owned by the German government since October 2009. Pfandbriefbank is a specialist bank for real estate financing and public investment financing. The assets of the bank are managed and governed by an executive management team.