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Deutsche Bank reports Q3 profit of 309 million euros

Christian Fernsby |
Deutsche Bank on Thursday posted a full-year net profit of 113 million euros ($135.7 million).

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Deutsche reported a 5.7 billion euro loss for 2019 as it underwent major restructuring.

The bank netted a 51 million euro profit for the fourth quarter.

Higher revenues and cost reductions helped Deutsche’s investment banking division perform well, with net revenues rising 32% to 9.8 billion euros in 2020.

This “more than offset a rise in provision for credit losses resulting from COVID-19,” the bank said in a statement.

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