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

2016A statue is seen next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany.

Kai Pfaffenbach | Reuters

LONDON — 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.

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.

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

Going into Wednesday’s trading session, the bank’s share price is up more than 15% year-to-date, having recovered from a sharp decline during the March coronavirus crash.


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