The bank’s shares jumped around six percent in early trading on the Frankfurt Stock Exchange – Copyright AFP/File ANTHONY WALLACE
Deutsche Bank on Thursday reported its highest second-quarter profit since 2007 and said it was on track to meet annual targets, sending shares in Germany’s biggest lender soaring.
From April to June, net profit attributable to the group’s shareholders came in at 1.48 billion euros ($1.74 billion), driven by its investment banking and asset management units.
Analysts surveyed by financial data firm FactSet had expected a figure of 1.34 billion euros.
In the same quarter last year, Deutsche Bank had booked its first quarterly loss since 2020 due to litigation costs linked to the troubled takeover of a smaller lender.
Thursday’s result “puts us on track to meet our 2025 targets”, said CEO Christian Sewing. The group is aiming to substantially cut costs this year, and said its results so…
