From Financial Modeling Prep: 2024-10-23 08:57:00

Shares of Deutsche Bank (NYSE:DB) dropped 2% after reporting higher loan losses in Q3, exceeding analyst expectations. Loan loss provisions reached €494 million, driven by a surge in Stage 3 provisions at €482 million, impacting specific portfolios like commercial real estate. Despite setbacks, the bank reassured investors of its capital distribution plan.

Deutsche Bank posted a net profit of €1.633 billion in Q3, surpassing estimates. Pre-tax profit was €2.262 billion, exceeding expectations by 6%. Corporate and private banking divisions saw some softness, with revenues down 3% and loan volumes falling by 1%. However, investment banking division showed strong results with revenues up 11%.

The bank’s performance was boosted by a 24% increase in origination and advisory fees, offsetting weaknesses in other segments. Despite challenges in specific portfolios, Deutsche Bank remains confident in its long-term financial goals. Revenues from core divisions were 2% higher than anticipated, indicating resilience in the face of adversity.



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