Deutsche Bank has reported a small third-quarter profit, beating very low expectations.
The bank reported a profit of €278m (£248m), a big turnaround from a €6bn loss in the same period last year.
Deutsche Bank said the “tough interest rate environment” and “unsettling effect” of negotiations with US authorities had been felt.
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Time For Truth: (BBC News) – Deutsche Bank reports profit despite 'tough' environment
German officials could be about to find themselves in an uncomfortable position: Being called on to show they’re ready to rescue a bank in a part of the world where such operations are considered taboo.
Deutsche Bank came under intensified market fire Thursday, the latest salvo being a Bloomberg report that a small number of hedge funds are trimming their sails at the German bank.
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Time For Truth: (CNBC) – Pressure is building for Germany to show it's ready to rescue Deutsche Bank
Anshu Jain said nothing. Honouring a long-standing commitment to appear on a panel at a Bloomberg conference in London, the man who co-led Deutsche Bank for three years until July last year, was careful not to mention the gigantic elephant in the room.
He was happy to talk about asset valuations, and the impact on deposit taking institutions. And he was only too pleased to wax lyrical on low interest rates causing serious issues for pensions. But discuss the ails of his former employer he did not.
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Time For Truth: (The Telegraph) – Is Deutsche Bank the next Lehman Brothers? The denials certainly don't help suggest it's not
Deutsche Bank has been scrambling to reassure investors it has enough cash to pay a multibillion-dollar fine for alleged wrongdoing a decade ago as its shares crumbled to new lows and knocked sentiment across the banking sector.
Shares in Germany’s biggest bank lost more than 7.5% to €10.55 on Monday despite attempts by its senior executives to insist the bank would not need help from Angela Merkel’s government with the potential fine for mis-selling mortgage bonds.
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Time For Truth: (The Guardian) – Deutsche Bank shares fall to lowest level since mid-1980s
In a bid to restore calm, following a catastrophic drop in value, Germany’s largest bank denied seeking help from Berlin after claims it sought aid from the German government and needed to raise additional funds from investors.
German Chancellor Angela Merkel said the German people would not bailout the Bank.