Deutsche Bank reports third-quarter profit of $1.9bn

30 October 2009

Deutsche Bank, Germany's biggest lender, has reported a pre-tax profit for the third quarter of 2009 of $1.9 billion.

The figures also showed that Deutsche Bank's net income for the first nine months of the year had reached $5.3 billion, a massive improvement on the amount for the same period in 2008, $1.3 billion.

Dr Josef Ackermann, chairman of the management board at the organisation, said that he was happy with the company's results for the third quarter, which saw profits across all of its business sectors.

It recorded its best-ever third-quarter figures for its sales and trading division, bringing in revenue of $4.6 billion.

"Deutsche Bank has proved its resilience in an exceptionally tough environment and has indeed emerged stronger from the crisis," he said.

Earlier this week, the bank agreed a deal to buy Sal. Oppenheim, a holding company based in Luxembourg which employs more than 4,000 members of staff, for $1.5 billion.

By Gary Cooper

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