Business News

FRANKFURT, Oct 27 (APP/AFP) – Troubled German lender Deutsche Bank reported Thursday a surprise 256-million-euro ($279 million) profit in the third quarter, compared with a loss of more than six billion in the same period last year. Deutsche outdid the expectations of analysts surveyed by Factset, who had predicted it would book a loss of 949 million euros between July and September. The group said revenues increased to 7.5 billion euros, slightly up from 2015’s third quarter, driven by 10-percent growth in its investment banking division. Revenues declined in all other business areas, which Deutsche said was largely down to the “impact of the ongoing low interest rate environment”.