LONDON (ShareCast) - Deutsche Bank (Xetra: 514000 - news) reported a 67% rise in second quarter profits thanks to a strong performance
in its investment banking business.
Germany's largest bank saw net profit rise to €1.1bn in the quarter ended 30 June compared with €645m last year, while net revenues were up 46% at €7.9bn.
Its investment banking arm swung to a pre-tax profit of €828m in the quarter from a loss of €311m previously.
"The outlook for the remainder of 2009 is strongly influenced by progress in the global economy," said chairman Josef Ackermann, adding that the group is well prepared in an "uncertain environment."
"We have witnessed stabilization of the world's banking industry and financial markets. Increased liquidity and lower volatility in financial markets are both supportive for our business."
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