Deutsche Bank's revenue up 13% to €5.94B in Q3

Wednesday, 28. October 2020 07:05

Deutsche Bank AG announced its third-quarter results on Wednesday, revealing that the company's total net revenues annually jumped 13% to reach €5.938 billion. The bank achieved a profit of €309 million in the same period, in comparison with an €832 million loss in the trimester ending September 30, 2019.

"In the fifth quarter of our transformation, we not only demonstrated continued cost discipline, but also our ability to gain market share. Our more focused business model is paying off, and we see a substantial part of our revenue growth as sustainable. Our balance sheet strength and high-quality risk management enable us both to support clients in challenging times and to take advantage of new business opportunities," CEO Christian Sewing stated.

The German bank concluded that, with the third consecutive profitable quarter this year, it remains on track to meet all financial and strategic targets.

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