Finance
Deutsche Bank’s Bad Debt Outlook Deteriorates for Second Time
- Higher credit provisions, lower rates weigh on lending units
- Trading, advisory income lift earnings in third quarter
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Deutsche Bank AG said it will have to set aside more money than expected for souring debt, the second time this year it had to adjust its guidance.
Germany’s largest lender on Thursday reported a 42% increase in third-quarter profit, helped by gains at the investment bank and in asset management. But lower revenue in the main lending units and a doubling of credit provisions from a year ago weighed on the results.