RTTNews | Oct 27, 2021 01:17AM EDT

01:17 Wednesday, October 27, 2021 (RTTNews.com) - German banking major Deutsche Bank AG (DB) reported Wednesday that its third-quarter net income rose 6 percent year on year to 329 million euros.

Profit before tax grew 15 percent from last year to 554 million euros after recognising a further 583 million euros in transformation charges. Core Bank profit before tax was 898 million euros, in line with prior year quarter.

Adjusted profit before tax was 1.2 billion euros, up 39 percent.

Provision for credit losses declined 57 percent year-on-year to 117 million euros.

Group net revenues were 6.0 billion euros in the third quarter, up 2 percent from the prior year, despite continued normalising markets, low interest rates and foregone revenues from the BGH ruling.

Core Bank net revenues grew 2 percent to 6.1 billion euros.

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