Deutsche Bank, the troubled German lender, announced better-than-expected revenue and income for its third quarter on Thursday, helping to alleviate concerns over its litigation issues and its current capital position.
The embattled bank and an important part of the global financial system announced third-quarter net income of 278 million euros ($303 million), which compares favorably to a 6 billion euro loss for the same period a year ago. The number also beat market expectations, as did revenues which came in at 7.49 billion euros ($8.17 billion).
It noted improved bond trading in the quarter — a trend seen across the whole banking sector, especially in the U.S. — and the results also showed that it raised its legal provisions slightly to 5.9 billion euros by the end of September. Shares of the firm rose 3 percent as the European trading session began on Thursday but quickly trimmed gains to trade flat.