Deutsche Bank post fifth straight quarterly profit

German lender Deutsche Bank said on Wednesday that it had managed to post a fifth straight quarterly profit despite declining revenues in its investment banking unit.

Third-quarter net income hit €194.0m at Deutsche Bank in the three months ended 30 September, ahead of the €135.0m expected by analysts to register the bank's longest streak of quarterly profits since 2012.

However, Deutsche Bank's investment banking division saw pre-tax profits drop as fixed income and currency trading led to a 12% year-on-year drop in net revenue as markets showed less volatility.

Group revenues were up 2% at €6.0bn, while in the investment bank they were 6% weaker.

DB, which also reiterated its targets for 2022, added that provisions for credit losses dropped from €53.0m to €37.0m.

As of 0905 BST, Deutsche Bank shares were down 4.42% at 11.38 each.