Deutsche Bank - Second quarter of 2018 results
Christian Sewing, Chief Executive Officer, said: “In the second quarter we accelerated the reshaping of our bank significantly and proved the resilience of our global business. We’re making important changes to our core businesses as promised, we’re headed in the right direction on costs, and our balance sheet quality is strong. This gives us the flexibility to invest in areas where we have particular strengths.”
Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) reported net income of 401 million euros in the second quarter of 2018, down 14% year-on-year, on profit before tax (Profit before tax = income before income taxes (IBIT) under IFRS) of 711 million euros, down 13% year-on-year.
These results were achieved against a backdrop of accelerated implementation of strategic measures announced by the new management team at the beginning of the quarter.
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