Deutsche Bank beats profit and revenue forecasts, confirms outlook
Deutsche Bank AG on Wednesday reported higher profit and revenue that beat expectations, overcoming a challenging investment-banking market to confirm its guidance for the year.
Revenue climbed 15% to EUR6.92 billion, with a 25% rise at its corporate bank, supported by higher net interest income. However, the bank also increased its provisioning for credit losses to EUR350 million from EUR117 million a year earlier, as it prepares for a more challenging economic outlook. The company confirmed its full-year guidance of revenue between EUR26 billion and EUR27 billion, with revenue at its investment bank expected to be slightly higher year-on-year
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