SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Deutsche Bank's share price falls despite profit surge

» Published: 23 October 2024

Deutsche Bank's share price falls despite profit surge
Photo: Michael Probst AP/TT

Deutsche Bank's share price falls 3 percent on the Frankfurt Stock Exchange following the German major bank's report for the third quarter.

The decline comes despite signals of extra dividend in the form of share buybacks and that the profit before tax in the third quarter surged upwards by 31 percent compared to the previous year to 2.26 billion euro – which was significantly more than the expected 2.02 billion.

The commission revenues during the quarter ended up lower than expected and this does not impress the market. Furthermore, the bank is raising its forecast for credit losses for the full year.

The provisions for covering credit losses in the third quarter amounted to 494 million euro, a doubling compared to the third quarter last year. Analysts had expected an increase, but only to 431 million.

Analysts also see signs of how the weak German economy is dragging down revenues for several units, including when it comes to corporate business at home.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Billion Fines for Unreasonable Fees on Air Travel
1 MIN READ

Billion Fines for Unreasonable Fees on Air Travel

Bosch reduces workforce by 5,500
1 MIN READ

Bosch reduces workforce by 5,500

Northvolt's CEO sold shares for hundreds of millions
1 MIN READ

Northvolt's CEO sold shares for hundreds of millions

Clothing Chain Raises Sales Forecast
1 MIN READ

Clothing Chain Raises Sales Forecast

Seven disputed taxes that can save the planet
3 MIN READ

Seven disputed taxes that can save the planet

Visa facilitation to boost China's tourism
1 MIN READ

Visa facilitation to boost China's tourism

The Stockholm Stock Exchange closed the week on a bright note
2 MIN READ

The Stockholm Stock Exchange closed the week on a bright note

Japanese households receive part of billion package
1 MIN READ

Japanese households receive part of billion package

Airline Launches Thailand Route from Arlanda
1 MIN READ

Airline Launches Thailand Route from Arlanda

Slight increase in apartment building
1 MIN READ

Slight increase in apartment building

Northvolt's CEO is leaving: Should have slammed on the brakes
3 MIN READ

Northvolt's CEO is leaving: Should have slammed on the brakes

Strike hits French Cognac
1 MIN READ

Strike hits French Cognac

Upbeat in Japan – Gloomy in China
1 MIN READ

Upbeat in Japan – Gloomy in China

Took a tough stance on crypto companies - resigns
1 MIN READ

Took a tough stance on crypto companies - resigns

Ingvar Carlsson on PG: "A very loyal friend"
2 MIN READ

Ingvar Carlsson on PG: "A very loyal friend"

No Wage Guarantee in American Process
1 MIN READ

No Wage Guarantee in American Process

He became "PG" to the entire Swedish people
3 MIN READ

He became "PG" to the entire Swedish people

PG Gyllenhammar has died: "meant a lot"
1 MIN READ

PG Gyllenhammar has died: "meant a lot"

Unstable US stock market ends on a plus
1 MIN READ

Unstable US stock market ends on a plus

Temu's owner shows its hand
1 MIN READ

Temu's owner shows its hand