FRANKFURT: Deutsche Bank posted a better-than-expected third-quarter profit on Wednesday despite a decline in investment banking revenue.
Net profit attributable to shareholders was 194 million euros ($225.78 million).
That compares with profit of 182 million euros a year earlier, and it is better than analyst expectations for profit of 135 million euros.
It was the fifth consecutive quarter of profit, the bank's longest streak in the black since 2012.
The profit, while a fraction of that of major US competitors, is a victory for Chief Executive Office Christian Sewing, who in 2019 embarked on a 9 billion euro overhaul to return the bank to profit after billions in losses over the past decade and a series of regulatory failings.
"We are focused on driving efficiencies while maintaining strong controls, and we are confident of achieving Deutsche Bank''s 2022 targets," Sewing said.
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