TELETRADER News
7/27/2022, 7:06 AM
(Source: TeleTrader)
Deutsche Bank-6.48%
Deutsche Bank's Q2 profit before tax up 33%, highest since 2011
Deutsche Bank said on Wednesday that its profit before tax in the second quarter of 2022 stood at €1.5 billion, rising 33% year on year, its highest second-quarter profit since 2011. On the other hand, profit after tax increased by 46% to €1.2 billion.
Net revenues increased 7% to €6.6 billion, driven by growth in all core businesses, especially Corporate Bank, which rose 26% year-on-year to €1.6 billion.
"We are particularly pleased with the progress of our Corporate Bank and Private Bank. Thanks to our successful transformation, we're well on track to deliver sustainable and well-balanced returns through our four strong core businesses," said Christian Sewing, Chief Executive Officer.