Deutsche Bank reported a better-than-expected 51% rise in second-quarter profit as investment banking revenue rose, although the bank was less bullish on the unit’s full-year outlook and issued a financial outlook warning .
The results come in a week of reports by almost all major banks in Europe, where investors are watching for signs that a weaker economy, higher interest rates and the war in Ukraine are affecting their operations and outlook.
Germany’s banks are at the center of a geopolitical storm because the country is highly dependent on Russian energy and its economy would be hit hard by any supply shortages.
Net profit came in at 1.046 billion euros, up from 692 million euros a year ago, and better than estimates of 788 million euros.
This is the sixth consecutive quarter of profits, a remarkable streak after years of losses.
Investment banking revenue rose 11% in the quarter, and revenue in the corporate unit rose 26%, helped by rising interest rates.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
