Deutsche Bank reported a fall in revenues at its investment banking unit on Wednesday, but still managed to beat expectations and post its fifth consecutive quarter of profit. The bank reported a net income of 194 million euros ($225 million) for the three months to September. Analysts had estimated a net income of 135 million euros for the third quarter, according to data from Refinitiv. It’s the bank’s longest streak of quarterly profit since 2012. The investment banking unit was again under the spotlight with profit before tax down from a year ago. Deutsche Bank said fixed income and currency trading saw net revenue drop by 12% year-on-year as markets showed less volatility.
Revenues at the group level were up by 2%, in the investment bank they were down 6%. But again, it is an extraordinarily strong third quarter. Going forward, Deutsche Bank believes that a different interest rate environment, digitization and other factors will keep supporting its business.