Deutsche Bank reported a net profit of over $1.5 billion in the third quarter, surpassing analyst expectations, and revenue exceeded forecasts. RBC analysts noted the rise in credit loss provisions was disappointing but expected, with core division revenues slightly soft and investment banking showing stronger performance. The bank reported a loss of more than $150 million in the second quarter and decided not to pursue a second share buyback program this year, partly due to provisions for its long-standing lawsuit over the Postbank acquisition. Shares were down more than 3% Wednesday morning.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Deutsche Bank reported a net profit of over $1.5 billion in the third quarter,
00:06surpassing analysts' expectations and revenue-exceeded forecasts.
00:10RBC analysts noted the rise in credit loss provisions was disappointing but expected,
00:15with core division revenue slightly soft and investment banking showing stronger performance.
00:20The bank reported a loss of more than $150 million in the second quarter and decided
00:25not to pursue a second share buyback program this year,
00:28partly due to provisions for its long-standing lawsuit over the post-bank acquisition.
00:33Shares were down more than 3% Wednesday morning.
00:36For all things money, visit Benzinga.com slash GSTV.