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FRANKFURT (dpa-AFX) – Deutsche Bank, in the middle of a crisis, takes its first steps under the leadership of its new boss, Christian Sewing. Long-term income stabilized in the second quarter largely and the profit was better than frightened. However, costs remain high in comparison with the industry and once lucrative capital market activities continue to pose problems. "In the second quarter, we significantly accelerated the reorganization of our bank." Message to Frankfurt. Thus, the merger of the private and business customer business with the subsidiary Postbank was finalized in May. The restructuring of the corporate and investment bank is also progressing.
In the second quarter, the bank nevertheless had to accept a 401 million euro profit cut, or 14% less than the same period last year. However, this is an improvement over the first quarter of 2018, when there remained only 120 million euros. In addition, the profit was better than the badysts had initially forecast.
Deutsche Bank had released key data for the second quarter a little over a week ago, which has been largely confirmed. The title then rose sharply, standing around 10.50 euros but still dangerously close to the end of June reaching a record low of 8.755 euros. Due to particular problems and falling interest rates, Deutsche Bank recorded losses for three consecutive years
