Deutsche Bank One-offs to the rescue

The third quarter was never going to be pretty for a debt powerhouse like Deutsche Bank. So how did the German bank actually managed to increase its earnings compared to last year? Via a series of one-offs and a good performance from businesses outside its core investment banking franchise. The credit crunch has, of course, taken its toll. Like UBS, Citigroup and Credit Suisse, the investment bank suffered huge writedowns to mark its loan and trading books to market prices. It has cut E700m fro...