Deutsche posts strong Q3 for FX
The German dealer revealed its sales and trading division, which includes foreign exchange, interest rates and commodities trading, grew 60% year-on-year in Q3, to reach e924 million ($1.2 billion).
This contributed to the quarter's e4.4 billion revenues, which were 14% lower than Q3 last year. The German dealer was hit by e1.2 billion in losses in its corporate banking and securities division.
Net income for the quarter was e414 million, which, although positive, was only about 25% of the e1.6
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