Deutsche Bank beats estimates at $1.47 billion
FRANKFURT, Germany, Oct 25 (AP/UNB) - Deutsche Bank AG says it made (euro) 777 million in net profit in a turbulent third quarter, beating analysts' estimates.
Tuesday's earnings figure contrasts with a loss of (euro) 1.2 billion in the year-ago quarter, when the bank took a (euro) 2.3 billion writedown related to consolidating its acquisition of Postbank.
The bank, Germany's largest, also wrote down (euro) 228 billion worth of shaky Greek bonds, whose value has fallen during the eurozone's government debt crisis.
The bank had already signalled the Greek writedown and said it won't make its profit target for this year.
Tuesday's earnings figure contrasts with a loss of (euro) 1.2 billion in the year-ago quarter, when the bank took a (euro) 2.3 billion writedown related to consolidating its acquisition of Postbank.
The bank, Germany's largest, also wrote down (euro) 228 billion worth of shaky Greek bonds, whose value has fallen during the eurozone's government debt crisis.
The bank had already signalled the Greek writedown and said it won't make its profit target for this year.
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