• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Deutsche Bank swings back to profit in third quarter, beats expectations

5 years ago
in Banking & Finance, highlights, Home, home-news, latest News
2 min read
0 0
0
64
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Deutsche Bank on Wednesday reported a net profit of 182 million euros ($214 million) for the third quarter, as Germany’s largest lender looks to emerge from the coronavirus crisis.

This surpassed expectations of a 114 million euro loss and marked a sharp improvement from the 77 million euro net loss attributable to shareholders in the previous quarter.

Provisions for bad loans totaled 273 million euros, adding to the 761 million euros allocated in the second quarter and 506 million in the first.

The bank benefited in particular from strong performance in its investment bank, where net revenues were up 43 per cent year-on-year to 2.4 billion euros, driven by 47 per cent growth in the Fixed Income & Currencies (FIC) division.

Deutsche shares were roughly flat by afternoon trading having whipsawed throughout the day, struggling to shake off the gloom sweeping through European markets. The bank’s stock is up more than 13% year-to-date, having recovered from a sharp decline during the March coronavirus crash.

Some other highlights included:

  • Total net revenues were 5.9 billion euros, compared to 5.3 billion in the third quarter of 2019.
  • Common equity tier 1 capital ratio stood at 13.3 per cent compared to 13.4 per cent a year ago.
  • Total non interest expenses came in at 5.2 billion euros in the third quarter, vs. 5.8 billion euros a year ago.

The bank had posted a net loss of 832 million euros for the same period last year, when a major restructuring plan continued to weigh on earnings.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

Deutsche Bank has been embarking on a mass restructure since July 2019 in a bid to cut costs and return to long-term profitability.

CFO James von Moltke told CNBC on Wednesday that Deutsche had been gaining market share across the investment bank and particularly the fixed income and currencies business, as a result of redirecting focus during the restructure.

“We are now very focused on the businesses where we can compete and win, and where our businesses and our clients and our people know where we are focused and where we can be really competitive, so I think we are seeing the benefits of that focus,” von Moltke told CNBC’s Annette Weisbach.

He estimated that around half of these revenues would be sustainable as the bank recovers market share and strengthens these businesses against a supportive backdrop, with investment banks across major lenders benefiting from heightened market volatility over the last three quarters.

“In the fifth quarter of our transformation, we not only demonstrated continued cost discipline, but also our ability to gain market share,” Deutsche Bank CEO Christian Sewing said in a statement.

“Our more focused business model is paying off and we see a substantial part of our revenue growth as sustainable.”

Source: cnbc
Via: norvanreports
Tags: CoronavirusDeutsche BankDeutsche Bank CEO Christian SewingGermany
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.