Deutsche Bank reports Q3 profit of 309 million euros
Topics: DEUTSCHE BANK
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. ■