Deutsche Bank Q3 Attributable Profit Down 8% - Quick Facts

(RTTNews) - Deutsche Bank (DB) reported third-quarter profit attributable to its shareholders of 1.03 billion euros, down 8% from 1.12 billion euros in the same quarter last year.

Third quarter post-tax profit was 1.2 billion euros, down 3% compared to the prior year quarter. The year-on-year development reflected an effective tax rate of 30% in the quarter, compared to 23% in the prior year quarter which benefited from the geographical mix of income.

But profit before tax was 1.7 billion euros for the third quarter of 2023, up 7% compared to the third quarter of 2022 and the highest for any third quarter since 2006.

Quarterly net revenues were 7.13 billion euros, up 3% year on year, and up 6% if adjusted for specific items. These items included the non-recurrence of prior year positive impacts from workout activities related to Sal.

The bank expects full-year 2023 revenues of around 29 billion euros.

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