Deutsche Bank Reports €6 Billion Net Revenues in Q3 2021

Deutsche Bank, a leading German financial services provider, released its financial results today for the third quarter of 2021. The bank reported a profit before tax of €554 million in this quarter after recognising a further €583 million in transformation charges.

According to the official announcement, Deutsche Bank’s net income in the quarter reached €329 million, which is a jump of 6% compared to the same period in 2020. The net revenues reached €6 billion in Q3 of 2021, which is a jump of 2% compared to the same period in 2020.

“In the third quarter, we again demonstrated the operating strength of our business: our revenues have proven to be resilient, we have increased our pre-tax profit despite additional transformation charges, and we have already exceeded our full year 2021 sustainability target,”Christian Sewing, Chief Executive Officer of Deutsche Bank, said.”We are focused on driving efficiencies while maintaining strong controls, and we are confident of achieving Deutsche Bank’s 2022 targets.”

The bank also reported a profit before tax of €3.3 billion for the first nine months of 2021. Net income was €2.2 billion in the first nine months, up more than five-fold from €435 million in the prior year period.

Last week, Deutsche Bank announced that it has launched its electronic forex pricing and trading engine​ and completed first live trades in Singapore where demand for currency trading among institutional players is on the rise.