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Deutsche Bank Expects Quarterly Profit to Meet Expectations

Nicholas Comfort, Steven Arons
Deutsche Bank Expects Quarterly Profit to Meet Expectations

Deutsche Bank AG’s third-quarter earnings may be a mixed bag, Chief Financial Officer James von Moltke suggested Wednesday. While the bank expects its pretax profit to be broadly in line with a consensus forecast of 327 million euros ($385 million), its adjusted costs will exceed the estimate, Moltke said at an investor conference hosted by Bank of America Merrill Lynch in London. Deutsche Bank, which long sought to compete with top Wall Street investment banks, is fighting to regain the confidence of investors and clients with a fourth strategic overhaul in three years.