Deutsche Bank Posts Surprise Profit on Trading Jump, Cost Drop
- Talks with U.S. authorities had ‘unsettling effect,’ CEO says
- Lender suffered some asset outflows amid U.S. settlement talks
Wheeler: Deutsche Bank Fixed Income as Strong as U.S.
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Deutsche Bank AG’s surprise third-quarter profit was overshadowed by Chief Executive Officer John Cryan failing to dispel concerns that uncertainty tied to a U.S. settlement will continue to linger.
Net income was 256 million euros ($279 million) after a loss of 6.01 billion euros a year ago, the Frankfurt-based lender said on Thursday. That beat an average 394 million-euro loss forecast by 14 analysts in a Bloomberg News survey. Trading revenue rose 10 percent, driven by debt and currencies, the biggest source of income, also beating estimates.