Deutsche Bank shares surge 7% after net profit beats expectations
Publishing timestamp: 2023-10-25 03:49:48
Summary
Deutsche Bank reported a third-quarter net profit of 1.031 billion euros, slightly beating expectations. This marks the thirteenth straight profitable quarter for the bank since its restructuring in 2019. The bank's shares rose after the announcement, and it plans to increase and accelerate shareholder pay-outs. While the investment unit continues to struggle, the bank's corporate banking business performed well. Deutsche Bank expects revenues of around 29 billion euros for the full year and has the potential to release up to an additional 3 billion euros in capital. However, challenges remain, including a weakening European business environment and IT issues at its retail units.
Sentiment: POSITIVE
Tickers: DBK-FF,
Keywords: business news, markets, breaking news: europe, wall street, banks, earnings, investment strategy, deutsche bank ag,