DB - Why German Multinational Company Deutsche Bank's Shares Are Surging Today | Benzinga
Deutsche Bank AG (NYSE: DB) shares are trading higher by around 7% after it reported Q3 FY23 results.
The bank reported revenue growth of 3% Y/Y to €7.13 billion. In USD terms, revenue of $7.76 billion beat the consensus of $7.11 billion.
Corporate Bank net revenues increased 21% Y/Y to €1.89 billion on double-digit growth across segments, led by strong net interest income and continued pricing discipline.
Private Bank revenues rose 3% Y/Y to €2.34 billion on higher revenues from deposit products, aided by increased net interest margins. Investment Bank net revenues declined 4% Y/Y to €2.27 billion in the quarter, mainly on lower FIC Sales & Trading (FIC) revenues (-12% Y/Y).
Asset Management revenues were down 10% Y/Y to €594 million, reflecting lower performance fees, the mark-to-market of co-investments, and FX movements.
Noninterest expense grew 4% Y/Y to €5.2 billion ...