A Deutsche Bank Turnaround Needs More Than Trading Success
Deutsche Bank’s trading arm had a cork-popping third quarter, but the lender’s turnaround still needs a broader solution to the persistent problem of ultralow interest rates.
Germany’s largest bank posted an unexpected €309 million quarterly profit Wednesday, buoyed by a 47% net-revenue increase in its fixed-income trading activities. That uplift was better than at most Wall Street rivals, implying market-share gains for Deutsche. The result helps refute concerns that the slimmed-down investment bank might struggle against…