Deutsche Bank Shocks Universe With Third Quarter Profit

No one saw this coming.
(Getty Images)

Getty Images

Earlier this week, we learned that Deutsche Bank was mulling over ways to pay bonuses this year that don't include cash. So you'll have to excuse the employees who'll be on the receiving end of some Men's Fitness subscriptions (to be shared) that did not see this one coming:

Deutsche Bank AG on Thursday posted an unexpected profit and set aside more cash to cover litigation costs amid talks aimed at settling mortgage-securities probes with U.S. authorities. Third-quarter net income was €278 million ($303.3 million), beating analysts’ average expectations for a net loss of around €610 million. That compared with a net loss of €6 billion during the same period last year, driven by billions of dollars in write-downs as part of a companywide restructuring.

Deutsche Bank Swings to Profit [WSJ]

Related: What Sort Of Non-Cash Bonuses Should Deutsche Bank Pay Its Employees This Year?