deutsche bank ag on wednesday reported higher profit and revenue that beat expectations overcoming a challenging market for investment banking to confirm guidance for the year the german lenders net profit for the three months to the end of september was 112 billion euros 112 billion a jump from eur194 million for the same period last year and beating expectations of eur960 million according to companycompiled consensus expectations revenue climbed 15 to eur692 billion with a 25 rise at its corporate bank supported by higher net interest income and commissionandfee income its key investment bank also saw growth albeit at a slower 6 as higher rates revenue offset significantly lower revenue at its credittrading operations amid a downturn in dealmaking the bank saw the benefits of tight risk discipline strong capital and conservative balancesheet management chief financial officer james von moltke said however the bank also increased its provisioning for credit losses to eur350 million from eur117 million a year earlier as it prepares for a more challenging economic outlook the frankfurtbased lenders common equity tier 1 ratioa measure of a banks ability to withstand financial stresswas 133 up from 13 at the end of the second quarter it said meanwhile return on tangible equity improved to 82 from 15 in the prioryear period deutsche bank also reduced its exposure to russia in the period to around eur200 million from eur600 million at the end of june the company confirmed its fullyear guidance of revenue between eur26 billion and eur27 billion with revenue at its investment bank expected to be slightly higher yearonyear higher rates drove net interest income at the company to eur366 billion from eur277 billion in the third quarter of 2021 it said we have significantly improved deutsche banks earnings power and we are well on track to meet our 2022 goals chief executive christian sewing said