FRANKFURT, May 14 (Reuters) - Deutsche Pfandbriefbank

, one of Germany's top property financiers, on

Wednesday said that it has decided not to take on new business

in the United States and would examine "all options" for its

existing business there.

The development came as the lender, also known PBB,

reported a 17% drop in first-quarter net profit and said that it

would review the timing of a planned share buyback as markets

were more volatile than expected.

The announcements follows a wave of bad news over the

past year for the bank, which dates back to the 1860s and was

bailed out by the government in the 2009 financial crisis, as it

navigates what it has called "the greatest real estate crisis"

since then.

The bank's quarterly post-tax profit was 24 million euros

($26.9 million), compared with 29 million euros a year earlier.

Provisions for loan losses fell to 26 million euros from 47

million euros a year earlier.

($1 = 0.8937 euros)