Deutsche Bank posted its best third-quarter results in 15 years. The manager responsible for private banking, Claudio de Sanctis, is pleased about the business.

Deutsche Bank has retained its momentum in the past third quarter, the formerly crisis-plagued institution booking a pre-tax profit of 1.6 billion euros ($1.56 billion), its best result for the period since 2006, the bank reported Wednesday. Net profit attributable to shareholders came in at 1.115 billion euros, up from 194 million euros a year earlier.

By comparison, UBS, Switzerland's largest bank, reported a net profit of $1.733 billion Tuesday, although profit was down in all of its major business units.

Interest Rate Underpinning

In contrast to UBS, which hit peak form last year, Deutsche Bank increased its year-over-year earnings across all divisions. After the corporate bank, the private client's bank, with which private banking is affiliated, grew the most, with earnings up 13 percent to 2.3 billion euros. The latter is headed by Claudio de Sanctis, the former head of European private banking at Credit Suisse.

Excluding special items, income in the private client's bank would have increased by only 5 percent. Higher net interest income, exchange rate effects, and a continued increase in business volume were noted as drivers of revenue growth.

New Money Inflows

Revenues in the IPB unit, in which Switzerland plays an important role as a booking center, increased by 14 percent when adjusted for special effects to 977 million euros. The unit attracted 10 billion euros in net new money, with 7 billion euros in assets under management and 3 billion euros in loans to customers.

«Our investments in talent, technology, and innovative product solutions within the Wealth Management & Bank for Entrepreneurs segment are paying off,» de Sanctis said.