Deutsche Bank posted a better-than-expected third-quarter 7% climb in profit on Wednesday, its fifth straight quarter in the black despite a decline in investment banking revenue. The profit, while a fraction of that of major U.S. competitors, is a victory for Chief Executive Office Christian Sewing, who in 2019 embarked on a 9 billion euro overhaul after a series of regulatory failings and billions in losses logged over the past decade. Net profit attributable to shareholders was 194 million euros ($225 million), compared with profit of 182 million euros a year earlier and analysts' expectations for profit of 135 million euros.
A former Deutsche Bank employee who blew the whistle about Libor-rigging has been handed a record-breaking reward of almost $200m (£145m) by a US regulator.
(Bloomberg) -- To find the biggest money maker at the rarely-money-making Deutsche Bank AG, you need to travel 6,370 miles from Frankfurt to the 18th floor of a glass office tower overlooking the green waters of Marina Bay in Singapore.Most Read from BloombergThe Top Money Maker at Deutsche Bank Reaps Billions From SingaporeForget Palm Springs—Santa Fe Is the New Mecca for Modern ArchitectureGoogle’s Biggest Moonshot Is Its Search for a Carbon-Free FutureA $30 Billion Fortune Is Hiding in China’