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Deutsche Bank swings back to profit in third quarter, beats expectations


Deutsche Bank on Wednesday reported a net profit of 182 million euros ($214 million) for the third quarter, as Germany’s largest lender looks to emerge from the coronavirus crisis.The bank had posted a net loss of 832 million euros for the same period last year, when a major restructuring plan continued to weigh on earnings.Deutsche Bank has been embarking on a mass restructure since July 2019 in a bid to cut costs and return to long-term profitability.Going into Wednesday’s trading session, the bank’s share price is up more than 15% year-to-date, having recovered from a sharp decline during the March coronavirus crash.

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