Deutsche Bank Swings Back into the Black with Surprise Q3 Profit

Berlin-Germany’s biggest bank Deutsche Bank made a surprise return to profit in the third quarter, according to results released on Thursday.

The Frankfurt-based bank said that the net profit hit 278 million euros about (303 million dollars) in the three months to the end of September compared with a 6-billion-euro loss in the same period last year, according to the German News Agency (dpa).

Analysts had expected the bank to report another loss.

However, the lender said it was setting aside an additional 500 million euros in the third quarter to help cover costly lawsuits.

Source: Qatar News Agency