Deutsche Bank: best Q3 result since 2006
(CercleFinance.com) - Deutsche Bank has reported better-than-expected Q3 net profit on Wednesday, as the German banking group benefited from rising interest rates.
Taxable earnings for the quarter rose by 7% to E1.7bn, its best Q3 performance since 2006.
After tax, net profit was E1.2bn, down 3% y-o-y, although above the consensus of E1.1bn.
The CET1 ratio - a solvency measure applied to European banks - also exceeded market expectations, at around 13.9%, compared with 13.8% the previous quarter and 13.4% forecast by consensus.
The financial institution estimates that it will be able to free up about E3bn of additional capital by 2025.
Following this publication, the share was up over 6% on the Frankfurt Stock Exchange, the best performer in the DAX index.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
Taxable earnings for the quarter rose by 7% to E1.7bn, its best Q3 performance since 2006.
After tax, net profit was E1.2bn, down 3% y-o-y, although above the consensus of E1.1bn.
The CET1 ratio - a solvency measure applied to European banks - also exceeded market expectations, at around 13.9%, compared with 13.8% the previous quarter and 13.4% forecast by consensus.
The financial institution estimates that it will be able to free up about E3bn of additional capital by 2025.
Following this publication, the share was up over 6% on the Frankfurt Stock Exchange, the best performer in the DAX index.
Copyright (c) 2023 CercleFinance.com. All rights reserved.