Deutsche Bank announces $1.46B profit in Q3

Bank’s 15th consecutive quarterly profit streak was interrupted last quarter due to legal dispute regarding subsidiary Postbank leading to loss

By Bahattin Gonultas

BERLIN (AA) – Frankfurt-based Deutsche Bank announced on Wednesday a $1.46 billion in net profit attributable to shareholders in the third quarter of the year, up 11% and above expectations, which came after the bank’s 15th consecutive quarterly profit streak was disrupted in this year’s second quarter.

The income of the bank’s investment banking unit also rose 11% to $2.7 billion in the third quarter.

The bank’s net income rose 5% on an annual basis to $8 billion.

The bank also announced that it had applied for approval for further share buybacks.

Deutsche Bank had made a provision for a legal dispute regarding its subsidiary Postbank, leading to a loss.

*Writing by Emir Yildirim in Istanbul

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