Quarter with surprise for Deutsche Bank. Despite the many legal and financial troubles, the German banking giant closed the July-September period with a net profit of 256 million euros. The result far exceeds the expectations of analysts, who had predicted a loss between 600 and 950 million. The same quarter last year ended with record losses of over 6 billion. As for turnover, in the third quarter of 2016 it rose by 2%, to 7,5 billion.
"The restructuring of the Bank is proceeding along the path outlined - said the chairman of the management board, John Cryan -, but this positive development in the past weeks has been overshadowed by the attention focused on the negotiations underway in the US" to resolve the issue of the sale of bonds backed by subprime mortgages for which the German bank risks a billion-dollar fine.
Deutsche Bank is "working hard" to reach a "resolution as soon as possible" on the US fine over the mortgage-related securities affair, Cryan continued, noting that the quarter's result "shows well the strength of the operating activities". .
One hour after opening Deutsche Bank stock gains 1,2% on the Frankfurt Stock Exchange, at 13,37 euros.
