Deutsche Bank revenue rises amid biggest loss in decade

Deutsche Bank - Foyer Bridge

Deutsche Bank said trading income rose 7% in the third quarter as co-Chief Executive Officer John Cryan’s clean-up of the bank’s books leads to the largest three-month loss in at least a decade.

Bloomberg News reports that revenue from trading debt and currencies, the investment bank unit’s biggest component, rose to 20% to $1.9bn in the period through September, the company said in a statement on Thursday. That beat the $1.7bn average of eight analyst estimates compiled by Bloomberg.

The bank posted a loss of $6.56bn as stricter capital requirements reduce the value of its investment bank and the firm reserved funds for legal costs. Cryan, who became co-CEO in July, is clearing the way for his plan to shore up capital and increase profitability which he will present to investors in London on Thursday.

To access the complete Bloomberg News article hit the link below:

Deutsche Bank Trading Revenue Rises as Writedowns Lead to Loss

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