Deutsche Bank Sees $2.1B Net on Tax Gains

BERLIN (TheStreet) -- Deutsche Bank(DB Quote) said Wednesday it expects third-quarter net income of about 1.4 billion euros ($2.09 billion) as it benefits from tax credits in the period.

A year earlier, the bank posted profit of 414 million euros. It earned 1.1 billion euros in this year's second quarter.

Germany's biggest bank said it expects pretax income for the third quarter in the range of 1.3 billion euros.

"It is expected that all business segments will report positive results," Deutsche Bank said in a statement.

The bank said the tax credits are "primarily the impact of tax exempt income as well as the successful resolution of a number of tax audits relating to prior years."

Deutsche Bank said its Tier 1 capital ratio is expected to be about 11.7% at the end of the third quarter.

The company said it will report third-quarter earnings next week.

-- Reported by Joseph Woelfel in New York .

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