Deutsche Bank made a profit in the third quarter against a firm loss a year earlier. Germany’s largest bank benefited in particular from cost savings by cutting thousands of jobs. In addition, good business was also done with the trading on the financial markets by the business bank division. The net profit was 309 million euros compared to a minus of 832 million euros a year ago. That is the third quarterly profit in a row for the Financial Group. Deutsche Bank’s total revenues increased to over EUR 5.9 billion, from almost EUR 5.3 billion in the third quarter of 2019. In the business bank division, profits rose by 43% to EUR 2.4 billion because of the coronacrisis, there was more turbulence on the stock markets. Deutsche Bank was particularly successful in the bond and currency trade. CEO Christian Sewing wrote in an explanatory statement that there was not only a new cost discipline at Deutsche Bank, but also a gain in market share.
