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(Sharecast News) - Deutsche Bank reported a stronger-than-expected second quarter on Wednesday, with net profit attributable to shareholders rising 10% to 1.64bn and pre-tax profit increasing 11% to 2.68bn.
Net revenue grew 9% to 8.48bn, led by a 19% increase in investment banking revenue, including a 16% rise in fixed-income and currency trading and 36% growth in origination and advisory.
Post-tax return on average tangible equity improved to 11.0% from 10.1%.
The bank announced a new 500m share buyback after recently completing a 1bn programme and said it remained on track for around 33bn of revenue this year.
"We have upside to our 2028 targets," said chief executive Christian Sewing.
Deutsche Bank added that rising expenses, including costs linked to its exit from retail banking in India, partly offset the stronger revenues, while its CET1 capital ratio eased to 13.9% from 14.2%.
Reporting by Josh White for Sharecast.com.
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