Deutsche Bank rebounds to profit in fourth quarter on stronger results from investment bank

MarketsAssociated Press

Deutsche Bank says it rebounded to make a fourth-quarter profit of 441 million euros ($498 million) after a 1.365 billion euros loss in the year-ago quarter.

The bank saw higher revenues at its investment banking division from trading bonds and foreign exchange in volatile markets at the start of the October-December quarter.

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The Frankfurt-based bank, Germany's biggest, also said Thursday it had lower charges for settling accusations of wrongdoing. And there were lower losses on the non-core investments it has set aside for sale.

Overall revenues rose 19 percent to 7.834 billion euros.

The bank's fourth-quarter earnings beat estimates among analysts surveyed by financial information provider FactSet who had expected a loss of 155 million euros.