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Deutsche Bank profits smash market estimates but shares slide 2%

“German lender Deutsche Bank posted a strong increase in third-quarter net profit Thursday, beating analyst expectations despite a significant drop in investment bank revenue” writes Krisztian Bocsi for cnbc.com. Meantime, revenues at the bank slipped 9.6 percent to 6.8 billion euros in the third quarter.For the same period last year net profit came in at 278 million euros.Here are the key third-quarter metrics: Germany’s flagship bank said further cost reductions had helped profits to more than double in the three months through to September. “While the revenue environment remained challenging, we have made significant progress on our initiatives,” Chief Executive John Cryan said in a statement.
 
Source: cnbc.com



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