Deutsche Bank Q3 net profit down 8%, but better than expected
© Reuters. FILE PHOTO: The logo of Deutsche Bank is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo
Net profit attributable to shareholders was 1.031 billion euros . That compares with profit of 1.115 billion euros a year earlier, and is better than analyst expectations for profit of around 937 million euros. The figures underscore trends in global banking emerging from a slew of mixed earnings reports that have shown investment banks struggling - with deal activity muted and trading sluggish - while higher interest rates prove a boon to other divisions.
But the earnings come as the investment bank faces uncertain business prospects in the coming quarters and as the retail division draws the scorn of regulators after it botched the integration of its Postbank arm, leaving customers complaining that they were locked out of their accounts and unable to reach call centres.
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