Business

Deutsche Bank sees profits rise

Deutsche Bank building
Image caption Deutsche Bank said it was continuing to gain market share

Deutsche Bank has reported a second-quarter net profit of 1.2bn euros ($1.56bn; £1bn), up from the 1.1bn-euro profit it made a year ago.

Germany's biggest lender was helped by lower provisions for bad loans.

But revenues at its investment banking business fell, with the bank saying the division had "followed the industry-wide trend of weaker profitability".

Overall revenues in the April-to-June period fell to 7.2bn euros from 7.9bn euros a year earlier.

Provisions for bad loans dropped to 243m euros from 1bn euros in the second quarter of 2009.

"In a quarter which was characterised by increased investor uncertainty and higher market volatility, Deutsche Bank's investment banking business followed the industry-wide trend of weaker profitability," chairman Dr Josef Ackermann said.

"That said, our leading franchise continues to gain market share while keeping strict risk and balance sheet discipline."

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