Deutsche Bank posted a better-than-expected 51% rise in second-quarter profit on Wednesday, helped by rising investment banking revenue, though the lender was less optimistic. on the division’s prospects for the year as a whole.
Net profit attributable to shareholders was €1,046 million ($1,060 million). This figure contrasts with a profit of €692 million a year earlier, and is better than analysts’ expectations of a profit of around €788 million.
It was the eighth consecutive quarter of profits, a remarkable streak after years of losses.
The bank revised down its revenue forecasts for investment banking, now expecting revenue to be “essentially flat” this year, versus earlier expectations that it would be “slightly higher.”