Deutsche Bank did good business in the second quarter of the current year and posted the best interim result since 2015.
Before taxes, there were around 1.2 billion euros in profit on the books at the end of June, as the Frankfurt Dax group announced on Wednesday.
Interest payments for certain bonds still have to be deducted from the after-tax profit of 828 million euros, so that the Deutsche Bank shareholders' bottom line was a profit of 692 million euros.
A year earlier, Germany's largest financial institution had just stayed in the black before these interest payments, after which the bottom line for Deutsche Bank shareholders was a minus of 77 million euros in the interim balance.
“The pre-tax profit of 1.2 billion euros in the second quarter confirms that we are well on the way to our target return of eight percent for the coming year,” said CEO Christian Sewing.
All business areas have become more profitable.
The earnings of the group - that is, the total revenue - were just over 6.2 billion euros, however, just below the total for the same quarter of the previous year.
Among other things, the ruling of the Federal Court of Justice (BGH) on bank charges came through here.
The BGH ruled at the end of April that banks must obtain the consent of their customers in the event of changes to general terms and conditions.
Many bank customers can now claim back some of the fees that have been paid too much, but a number of institutes are putting money back.
Because the restructuring of the bank, including the shedding of thousands of jobs, is making good progress and the economic environment is stabilizing, the management is becoming increasingly optimistic.
For the year as a whole, the Management Board expects slightly higher income and less risk provisioning for possible loan defaults than previously expected.