Deutsche Bank experienced an increased level of pre-tax income during the third quarter of the year, it has emerged.
New data released by the German financier this morning (30 October) revealed its income before tax is taken into account stood at €1.1 billion ($1.4 billion) for this three-month timeframe.
This represents a hike of around 20 per cent on the figure posted for the previous quarter but, when compared to the third quarter of 2011, the bank's net income dropped by €22 million to a total of €755 million.
Nevertheless, the lender indicated that its net revenues climbed to €8.7 billion from €7.3 billion over the same period of time, thanks to marked improvements in areas such as its corporate banking and securities and global transaction banking divisions.
Juergen Fitschen and Anshu Jain, co-chairmen of Deutsche Bank's management board and executive committee, commented: "In the near term, the macro environment remains uncertain and we will maintain a cautious and risk-focused approach.”
By Tony Aynsley