Deutsche Bank reports surprise 3rd-quarter profit

Deutsche Bank AG reported a surprise third-quarter profit on Thursday, helped by new European Union accounting rules that limited its write-downs to 1.2 billion euros ($1.5 billion).

Investors were cheered by the better-than-expected performance into the headwinds of the global banking and credit crisis, although net profit was down 74 percent from last year's third quarter. The bank, Germany's biggest in terms of assets, earned 414 million euros ($528.7 million) in the July-September period _ down from 1.6 billion euros a year earlier.

Read Full Article from Washington Post

- Posted: 2008-10-30 08:39:54

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