Deutsche Bank made a loss on equity underwriting in the third quarter of around €50m ($45m), according to its published results for the first nine months of the year. It is understood that the bank incurred the book loss on two deals in which it still holds a position.

The losses wiped out all of the fees from Deutsche's global equity underwriting business in the third quarter, which are understood to have been around €40m to €50m, and left it with negative revenues of minus-€13m before costs, such as salaries and staff costs, are taken into consideration.