Deutsche up in IB and on track for Basel III
Deutsche Bank’s investment banking business had a strong third quarter, posting a pre-tax profit of €662m, some €592m more than the same period last year. It also said it was on track to achieve its Basel III capital ambitions and would make 300 more redundancies before the end of 2012.
Overall pre-tax profit was 1.1bn, 20% more than last year. The corporate and investment bank, which includes corporate banking and securities (CB&S) alongside transaction banking, posted a pre-tax profit of 1bn, of which CB&S contributed 662m. Net revenues for CB&S were 4.3bn, 65% more than last year.
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