Deutsche Bank rides out tough Q3

October 31, 2007

In the company's latest results, the investment banking business was pushed into the red for the first time in half a decade - making a pretax loss of 179 million euros ($258 million) in the third quarter. Deutsche Bank posted an overall pretax profit of 1.4 billion euros but said said the rest of the year looked grim and fourth-quarter revenues would be squeezed significantly lower as the markets stay choppy. But CEO Josef Ackermann says the bank is standing by its goal of a pretax profit of 8.4 billion euros for 2008.Joanna Partridge reports for Reuters