Higher taxes caused Deutsche Bank’s profits to decline in the third quarter despite higher interest rates. Shareholders received a surplus of over one billion euros, eight percent less than a year earlier, as the DAX group announced. Experts had expected a sharper decline. Thanks to the increased interest rates, the bank increased its income by three percent to 7.1 billion euros.
In addition, CEO Christian Sewing also expects higher earnings for the year as a whole: instead of 28.5 billion to 29 billion euros, they should now reach around 29 billion euros. Meanwhile, the board sees the bank in a position to release a further three billion euros in capital by 2025. He is already considering further share buybacks for 2024.
