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Deutsche Bank posts record profit on strong trading
Deutsche Bank posts record profit on strong trading
Economy
by  AFP

Germany's largest bank Deutsche Bank posted record third-quarter profit Wednesday and beat expectations, boosted by a strong performance at its investment bank. Revenue rose across most of the bank, but the investment bank led the way with a rise of 18 percent to three billion euros.

UBS beats expectations as claws backs provisions
UBS beats expectations as claws backs provisions
Economy
by  AFP

Swiss banking giant UBS reported third-quarter earnings that beat analyst expectations, thanks in part to clawing back provisions for possible litigation, but also sustained by strong performances in its trading and wealth divisions. The bank said it had earned a net profit of nearly $2.5 billion in the third quarter, a 74-percent increase from the same period last year.