"Deutsche Bank today reported its best quarterly profit since the first quarter of 2014," the company statement said.
The US family-owned hedge fund had taken huge bets on a few stocks with money borrowed from banks but collapsed when several of those bets turned sour. "While we can look back on an excellent quarter, the outlook is also encouraging," Sewing said in a letter to employees. Its worst-ever year came in 2016, when it lost 6.8 billion euros, mostly related to its investment bank's activities in the years around the financial crisis.
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