Deutsche Bank reports record profit as it sees German recovery
Net profit came in at €1.85 billion (US$2.1 billion) in the three months to end-September, up 2% from the period last year.
Deutsche Bank announced a record profit for the third quarter in a row, signaling growing confidence in its home German market. The bank's net profit reached €1.85 billion (US$2.1 billion) in the three months ending September 30, marking a 2% increase from the same period last year. Overall revenue rose 4% to €8.34 billion, primarily fueled by growth in its private banking division.
Chief executive Christian Sewing expressed satisfaction with the bank's third consecutive record quarterly profit in 2026. He highlighted the encouraging momentum in Germany, where increasing client confidence is driving further growth opportunities. Corporate banking division revenue grew 9% to €1.98 billion, with profits up 11% to €743 million.
Sewing's remarks indicate that Europe's largest economy might be recovering from a prolonged slump. Germany has experienced virtually no growth since a surge of pent-up Covid pandemic demand in late 2022, exacerbated by fierce Chinese competition in key export markets, US tariffs, and subdued demand within Europe. However, a series of better-than-expected data releases have raised hopes that the worst may be over for now.
Business sentiment improved for the sixth consecutive month, according to the Ifo survey released on Monday, and the government recently raised its full-year growth forecast to 1.3% from an April projection of 0.5%.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
