Deutsche Bank Second-Quarter Profit Jumps on Lower Tax Payments
ByDeutsche Bank AG, which runs Europe’s biggest investment bank, said second-quarter profit more than tripled after its tax bill fell.
Net income was 796 million euros ($873 million) in the three months through June, up from 237 million euros a year earlier, the company said in a statement on Thursday. That is in line with the 797 million-euro average of 10 analyst estimates compiled byBLOOMBERG
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Co-Chief Executive Officer John Cryan, who replaced Anshu Jain this month, is pressing ahead with the bank’s plan to bolster profitability by reducing costs and cutting back businesses. Cryan has signaled he may shrink the trading operation built up by his predecessor as some investors have called for a more aggressive revamp of the securities unit to bolster capital…
Deutsche Bank Second-Quarter Profit Jumps on Lower Tax Payments
