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Third quarter result of Deutsche Bank it has dropped 65% (before minorities) from one year on the other to 229 million euros, but the bank said it is on track for a restructuring. "We are on track to close the year profitably for the first time since 2014. The costs are under control and we have enough capital to grow," said General Manager Chistian Sewing. Group net income rose to 211 million euros, compared to 647 million euros in the third quarter of 2017.
At the same time, equities began to fall in Frankfurt, down -2.8% to 9.06 euros per share, then again in acceleration from 9:48 to -4.25% (8.92 euros per share). ).
Revenues decreased 9% to 6.18 billion, with a 13% slowdown in corporate and investment banking. Brokers have indicated in the consensus of the German banking group that they expected a net profit of 173 million euros for the quarter, compared with 6.27 billion euros in turnover. . Profit before tax stood at 506 million euros, of which 933 million last year and 711 million in the second quarter of this year.
The Common Equity Tier 1 (Cet1) ratio increased from 13.7% to 14% compared to the Bank's 13% target. This results from the reduction of risk-weighted badets (RWA) by 7 billion euros, resulting in particular from the reduction of investments considered non-strategic. The cost / income ratio of the bank reached 90% between July and September, against 84% a year earlier and 88% in the second quarter of this year.
The number of full-time employees also decreased from 94,717 to 94,700. The directors confirm that from December this year, the bank will reach 93,000 employees. In the badet management sector, net sales amounted to 567 million euros, down 10% from the third quarter of 2017, mainly in reason for a punctual purchase of 52 million euros with reference to a real estate fund. The pre – tax profit of the sector amounted to 143 million euros against 197 million a year earlier and 93 million euros in the second quarter of 2018.
Assets under management increased by 2 billion euros to reach 694 billion euros, thanks to market performance and interest rate fluctuations, which more than offset net outflows of funds. . Instead, Credit Suisse had forecast additional outflows of $ 4 billion, up from $ 7.8 billion in the first quarter and five in the second.
Between June and September, DWS, the subsidiary of Deutsche Bank, recorded net flows of 2.7 billion euros. . This was reported today by the same company that deals with badet management. This is mainly due to redemptions related to US tax reform. DWS had already recorded net outflows of 12.7 billion euros in the first half.
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