Deutsche Bank: Q3 2024 Results Rebound Supported by Legal Provisions Releases

Deutsche Bank reported a net attributable profit of EUR 1,461 million in Q3 2024, compared with a loss of EUR 143 million in Q2 2024. This result also represents a steep 42% year-over-year (YOY) increase compared with a net attributable profit of EUR 1,031 million for the quarter last year, primarily driven by the improved performance of the Bank's investment banking and asset management divisions. During the quarter, the Bank was able to release EUR 440 million related to the Postbank litigation, following settlements reached in August and September. In the previous quarter, the Bank had incurred litigation costs to the tune of EUR 1.3 billion related to this case.

"On an underlying basis, we note that the Bank's strategy over the years of leveraging strong fee-generating business lines to counteract lower interest rates scenarios has proven to be effective." said Borja Barragán, Assistant Vice President of European Financial Institutions at Morningstar DBRS.