Deutsche Bank's latest set of earnings indicates the lender continues to struggle to boost its balance sheet.
The German bank has reported a net income of 229 million euros ($262.71 million) on Wednesday, above the 149 million euros expected in a Reuters poll of analysts. However, the performance that corresponds to the third quarter of 2018 was 65 percent below what the bank reported a year ago.
Here are some of the key highlights:
- Net income: 229 million euros in the third quarter of 2018 vs 649 million euros in the third quarter of 2017
- Profit before tax: 506 million euros in the third quarter vs 933 million euros in the third quarter of 2017
- Common Equity Tier 1 capital ration: 14 percent in the third quarter vs 13.8 percent in the third quarter of 2017
Christian Sewing, chief executive officer of Deutsche Bank said in a statement on Wednesday: "With profit before tax of 506 million euros, this result is another milestone on our way to becoming a sustainably profitable bank. We have our costs under control and sufficient capital to grow. We are on track to be profitable in 2018, for the first time since 2014."