The bank announced a profit above expectations in the third quarter, after breaking the profit streak of 15 consecutive quarters in the second quarter of the year.
Deutsche Bank announced its financial results for the third quarter of 2024. Accordingly, with the effect of good business in investment banking, the bank increased its after-tax profit (net profit attributable to shareholders) in the third quarter by 41 percent compared to the same quarter of the previous year, reaching 1 billion 461 million euros.
The bank made a profit above expectations in the July-September period, after breaking the profit streak of 15 consecutive quarters in the second quarter of the year. Analysts expected an average profit of around 1.4 billion euros.
The bank’s investment banking unit’s revenue increased by 11 percent to 2.5 billion euros in the third quarter.
Deutsche Bank’s net income in the third quarter of this year increased by 5 percent compared to the same period in 2023, reaching 7.5 billion euros.
In the second quarter, a 1 billion euro provision allocated for a legal dispute regarding its subsidiary Postbank caused Deutsche Bank to incur a loss.
The bank also said it has applied for approval to buy back more shares.
