Deutsche Bank reported a third-quarter net profit of 1.031 billion euros ($1.06 billion), slightly beating expectations.
Deutsche Bank on Wednesday reported a third-quarter net profit of 1.031 billion euros , slightly beating expectations despite an 8% fall on the previous year and ongoing struggles in the lender's investment unit.
Israel-Hamas war live updates: UN warns fuel in Gaza will run out by tonight; Israel says Hamas is stockpiling existing suppliesThe bank delivered a strong performance in its corporate banking business — which benefits from the higher interest rate environment — where revenues rose 21% year-on-year to 1.89 billion euros.to see a slowdown in its investment arm, where net revenues fell 4% year-on-year to 2.27 billion euros and are down 12% in the first nine months of the year to 7.3 billion.
There has been a rotation of the bank's activity focusing onto other products, notably credit and financing, which have seen strength, he said.Total revenues stood at 7.13 billion euros, up from 6.92 billion in the third quarter of 2022.
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