Deutsche Bank AG’s revenue grew 13% to 5.94 billion euros in Q3 2020, up from an expected 5.62 billion euros, according to MarketWatch. The investment bank’s revenues rose 43%, including a 47% growth in key fixed-income and currency business. The bank’s results mirror the positive performance of some of the largest U.S. banks.
- Q3 revenues suggest that Deutsche Bank’s ongoing restructuring initiated last year is paying off.
- The bank has aside 273 million euros to cover credit losses, higher than the same period last year but lower than Q2.
- Deutsche’s revenue growth drove quarterly profit to 278 million euros, up from a loss of 859 million euros recorded a year earlier.
- Including non-controlling interests, Deutsche made an after-tax profit of 309 million euros, up from a loss of 832 million euros a year earlier, above expected 12 million euros profit.
Deutsche Bank AG stock is gaining on quarterly earnings. DB: NYSE is up on premarket 1.84%