Deutsche Bank Reports Record Profit As It Sees German Recovery
FRANKFURT: Deutsche Bank reported Wednesday a record profit for the third quarter in a row as it expressed growing confidence in its home German market.
Net profit came in at €1.85 billion (US$2.1 billion) in the three months to end-September, up 2% from the period last year.
Overall revenue rose 4% to €8.34 billion, driven above all by growth for its private banking division.
"We are pleased to report our third consecutive record quarterly profit in 2026," chief executive Christian Sewing said in a statement.
"We see encouraging momentum in Germany, where increasing confidence among clients is creating further growth opportunities for us," he added.
Revenue at the corporate banking division, which lends to businesses, rose 9%t to €1.98 billion, with profit up 11% to €743 million.
Sewing's comments are the latest sign that Europe's biggest economy could be recovering from a long slump.
Germany has posted virtually no growth since a burst of pent-up Covid pandemic demand at the end of 2022, hit by fierce Chinese competition in its key export markets as well as US tariffs and subdued demand in Europe.
But a series of brighter-than-expected data releases have boosted hopes that the worst could be over for now.
Business sentiment rose for the sixth month in a row, the closely watched Ifo survey said Monday, and the government earlier this month lifted its full-year growth forecast to 1.3 percent from its April forecast of 0.5%.
Popular Products
-
Classic Oversized Teddy Bear$23.78 -
Gem's Ballet Natural Garnet Gemstone ...$171.56$85.78 -
Butt Lifting Body Shaper Shorts$95.56$47.78 -
Slimming Waist Trainer & Thigh Trimmer$67.56$33.78 -
Realistic Fake Poop Prank Toys$99.56$49.78