Major financial services provider Deutsche Bank’s shares spiked on Wednesday following news that the company’s significant earnings means higher-than-expected cash payouts to its shareholders.
The bank is reportedly on track to pull in €29 billion during 2023, the company’s highest revenue in seven years.
Likewise, its third quarter earnings report revealed the company has “the potential to free up additional capital of around €3 billion ($3.2 billion)” over the course of the next two years.
As a result of the news, Deutsche Bank stock jumped 7% during trading Wednesday.
