on Wednesday crushed market expectations, reporting a net income of 1.115 billion euros for the third quarter."We have significantly improved Deutsche Bank's earnings power and we are well on track to meet our 2022 goals," Christian Sewing, chief executive officer of Deutsche Bank, said in a statement.Revenues rose 15% from a year ago, and hit 6.92 billion euros.Looking at the bank's individual divisions, investment banking revenues increased 6% from a year ago.
In particular, revenues in Fixed Income and Currencies were up by 38% over the same period and helped offset lower performance in Credit Trading.Deutsche Bank also said it had further reduced its exposure to Russian credit over the same period.The German bank also reported higher provisions in comparison to the same quarter a year ago. These came in at 350 million euros at the end of the third quarter, compared to 117 million euros at this time last year.