Deutsche Bank Profit Rises 6.2%

July 27, 2010  |  

(Wall Street Journal) — Germany’s Deutsche Bank AG Tuesday reported a 6.2% increase in second-quarter net profit despite concerns of a slowdown during the period because of the sovereign-debt crisis. Deutsche Bank, which is Germany’s largest listed bank by market capitalization, booked a €1.16 billion ($1.51 billion) net profit for the quarter, up from €1.09 billion a year earlier. The bottom line was lifted by a sharp drop in its provision for bad loans and a gains from its acquisition of ABN Amro’s commercial-banking assets in the Netherlands.

Read More…

Trending on MadameNoire

Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN