Deutsche IB profit collapses but own credit gain modest
Deutsche Bank scraped a €70m pre-tax profit in its corporate banking and securities (CB&S) division for the third quarter of 2011, after revenues fell sharply in most business lines.
The profit figure was 94% down on the same period in the previous year, while revenues fell by 38% to 2.6bn.
At group level, the bank reported pre-tax profits of 942m after recording a further 228m writedown related to its Greek sovereign bond holdings taking its total writedown
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