Deutsche Bank reports Q3 profit before tax up 7% y/y to EUR 1.7B

Reports Q3 Post-tax profit of EUR 1.2B, down 3%, reflecting a higher tax rate; Post-tax RoTE of 7.3% and cost/income ratio of 72%; Net revenues up 3% year on year to EUR 7.1B; Net inflows of EUR 11B across the Private Bank and Asset Management. Common Equity Tier 1 ratio rises to 13.9% after absorbing regulatory impacts of 38 basis points and share buybacks. “These results demonstrate strong and sustained business growth momentum combined with continued cost discipline. Furthermore, we have materially improved our capital outlook thanks to our strong results and focused capital efficiency measures. This gives us scope to invest in growing our Global Hausbank model, further improve returns, and increase and accelerate distributions to our shareholders,” said CEO Christian Sewing.