Deutsche Bank Draws Record €47 Billion: Can Europe's Bank Stocks Recover?

Germany’s largest investment bank, Deutsche Bank, saw a record €47 billion in funds come in via new clients in Q3. Its after-tax profit also hit €1.9 billion. However, shareholders face a bruised sector. Europe’s bank stocks fell 7% since early September. Where Did Deutsche Bank’s €47 Billion Come From? The largest share, a record €31 billion, went to the bank’s asset management arm. Most went into passive funds, which cheaply track a market index. Those flows feed fees. Management fees at the unit rose 14% on higher average assets, the bank said. The arm is listed separately as DWS, which also reported record nine-month inflows on Wednesday. The Private Bank, which serves households and wealthy savers, added a record €17 billion.

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