Deutsche Bank AG (NYSE:DB) reported record third-quarter profits and said it is looking to conduct more share buybacks.
Underlying operating profit before tax was increased 6% to €1.8 billion.
If including a €440 million partial release of Postbank-related litigation provisions, total profit before tax came in at €2.3 billion.
For the first nine months of the year, PBT is down 5% at €4.7 billion, or if excluding the Postbank litigation impact, up 13% at €5.6 billion.
“In these three months, we made important progress in putting legacy litigation matters behind us, while also producing a record third-quarter profit in our operating business,” said chief executive Christian Sewing.
He said it reflected “positive momentum across our businesses and sustained cost discipline”.
The expressed confidence that Deutsche Bank will continue to grow profitably and “exceed our original goals for capital distributions to shareholders. We have now sought authorization for further share repurchases.”