By Patricia Kowsmann Close Patricia Kowsmann Oct. 28, 2020 3:26 am ET Deutsche Bank AG DB -3.04% said it returned to a third-quarter profit, beating expectations, as it benefited from strong performance in investment banking and a faster-than-anticipated recovery in its home market.
“Our more focused business model is paying off and we see a substantial part of our revenue growth as sustainable,” Deutsche Bank Chief Executive Christian Sewing said in a statement. But Deutsche Bank’s outlook remains challenging. Investment-banking activity is expected to normalize. Earlier this month, Moody’s warned that despite Germany’s strengths, slower growth and rising unemployment will dent consumer and business confidence, hurting investments and demand for loans. As a result, profits for German banks will be even more vulnerable to low interest rates, which are expected to stay around for longer.
''benefited from a strong performance in investment banking'' More lies. These rags have no idea about any truth. 17 Apr 2019, $354 Billion U.S. Bailout, Largest bailouts in history in 2020 USD ($bn) vs. G7 debt to GDP Deutsche Bank.
Guess there were no outstanding loans to forgive this quarter huh?
this is terrible news
Interest on realDonaldTrump’s massive debt?
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