FRANKFURT (Reuters) -Deutsche Bank posted a better-than-expected 51% rise in second-quarter profit as investment banking revenues rose, figures on Wednesday showed.
Net profit attributable to shareholders was 1.046 billion euros ($1.06 billion). That compares with profit of 692 million euros a year earlier, and it is better than analyst expectations for profit of around 788 million euros.
It was the eighth consecutive quarter of profit, a notable streak after years of losses.
This year is crucial for Germany’s largest lender and Chief Executive Christian Sewing as he tries to deliver on targets he set out in a costly overhaul of the bank embarked upon in 2019.
“With the best half-year profits since 2011, we have proven – once again – that we can deliver growth and rising profits in a challenging environment,” Sewing said.
($1 = 0.9854 euros)
(Reporting by Tom Sims and Marta Orosz, editing by Kirsti Knolle)
