Deutsche Bank: posts mixed results for second quarter

(CercleFinance.com) - Deutsche Bank on Thursday reported mixed second-quarter results, with profitability significantly better than a year ago but falling short of group's longer term targets.


The German lender said this morning that it had earned a net income of 466 million euros last quarter, compared with just 20 million euros a year earlier.

Revenue fell 10 per cent to 6.6 billion euros, in line with expectations.

Corporate & Investment Bank net revenues declined by 16% to 3.6 billion euros, with sales & trading (equity) revenues dropping by 28% year-on-year.

On Germany's DAX index, the shares were down 3.7 per cent at below 16 euros after these results.

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