Deutsche Bank Q3 Net Profit Tumbles 94%

Deutsche Bank AG DB reported a 94% drop in its third-quarter net profit. Deutsche Bank's quarterly net profit tumbled to 41 million euros ($24.7 million), versus a year-ago profit of EUR747 million. However, analysts were expecting a profit of EUR376 million. Its pretax profit tumbled to EUR18 million, down from EUR1.13 billion. The bank's net revenue also declined 10% to EUR7.7 billion. Deutsche Bank's shares closed at $49.54 yesterday.