Public RelationsDeutsche Bank Q2 net surges 67% to euro 1.1 bn
German financial services major Deutsche Bank today reported a 67 per cent jump in net income to euro 1.1 billion (Rs 7,566 crore) for the second quarter of 2009, bolstered by a good performance in its corporate and investment banking operation.
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In the corporate and investment bank division, income before taxes was euro 828 million in the second quarter whereas the unit incurred a loss of euro 311 million in the same period a year ago, Deutsche Bank said in a statement.
Deutsche Bank"s net revenues for the quarter stood at euro 7.9 billion, as compared to euro 5.4 billion, including euro 176 million of fair value losses on bank"s own debt.
"The current quarter result was affected by the absorption of euro 1.4 billion of specific charges, mainly in non-interest expenses and provision for credit losses, which were in part counterbalanced by euro 758 million of specific positive revenue effects," the company said.
The company"s net revenues in the corporate and investment bank were euro 5.3 billion in the latest quarter, up 84 per cent as against the second quarter of 2008.