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Deutsche Bank posts sharp rise in profit to $547 million

Deutsche Bank's chief says profitability short of longer term goals

Reuters  |  Frankfurt 

Deutsche Bank posted a sharp rise in second-quarter net profit to 466 million euros ($547 million) on Thursday, benefiting from lower legal costs for past misdeeds that outweighed a dip in debt trading. Germany's flagship lender beat the expectations of analysts, who had forecast net income of 273 million euros after just 20 million euros in the second quarter of last year, according to a Reuters poll. Nonetheless, Chief Executive John Cryan said group's profitability fell short of its longer-term goals. "Revenues were not as universally strong as we would have ...

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First Published: Thu, July 27 2017. 14:15 IST