Bond trading surge returns Deutsche Bank to profit
Third-quarter revenue climbed 43% at its investment banking division
28 October 2020 - 16:45
Frankfurt — Deutsche Bank, Germany's largest lender, reported a surprise return to a third-quarter net profit and upgraded its annual outlook for investment banking revenue, as it navigates a restructuring and the coronavirus pandemic.
The lender's investment banking division, which has long been a drag on earnings, is proving a bright spot as market volatility spurs trading. Deutsche's top executives said the revenue is expected to slow in the months ahead, but that the division will hold on to some recent market share gains...
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