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Deutsche Bank makes profit as recovery reduces bad loans


FRANKFURT, Germany (AP) — Deutsche Bank has seen its net profit increase 6%, to 329 million euros, in the third quarter despite a sharp increase in restructuring costs. The bottom line at Germany’s largest bank benefited from fewer loans going bad as the economy rebounds from the coronavirus pandemic. The bank said Wednesday that it had to set aside only 117 million euros for losses on loans that aren’t being repaid, down 57% from the same quarter a year ago. Since then, some of the worst pandemic restrictions have eased. Plus, governments have extended credit guarantees and other support for businesses and the European Central Bank has kept interest rates low, reducing stress on borrowers. 

Article Topic Follows: AP National Business

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