Deutsche Bank shares surge 7% after net profit beats expectations


Credit environment worse than normal but not in period of stress, Deutsche Bank CFO says

Deutsche Bank shares popped on Wednesday, after the lender slightly beat expectations with its thirteenth straight profitable quarter and said it would increase and accelerate shareholder pay-outs.

Third-quarter net profit was 1.031 billion euros ($1.06 billion), above an analyst consensus of quarterly net profit attributable to shareholders of 997 million euros, according to LSEG data.

Shares were 7% higher at 8:33 a.m. London time.

The bank’s third-quarter net profit was down 8% on the previous year and up 35% on the quarter, amid ongoing struggles in the lender’s investment unit.

For the same period in 2022, the German lender recorded a net profit of 1.115 billion euros on the back of…

Source cnbc.com

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