German banking major Deutsche Bank has posted a net income of EUR818m for the second quarter of 2015, up 243.7% compared to EUR238m in the year ago quarter.
The bank’s pre-tax income for the quarter ended 30 June 2015 stood at EUR1.2bn, a rise of 34% from EUR917m in the year ago quarter.
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The group’s net revenues increased 17% year-on-year to EUR9.2bn from EUR7.9bn. The bank in a statement said approximately EUR570m of the revenue growth was attributable to favorable foreign exchange movements.
The lender’s litigation-related costs increased to EUR1.2bn in the second quarter from EUR757m a year ago.
Deutsche Bank co-CEO John Cryan said: "The second quarter highlights the strengths of and challenges facing Deutsche Bank. Solid revenue growth underscores the fundamental strengths of our businesses and the commitment of our people.
"However, our challenges are also evident in the unacceptably high level of our costs, our continuing burden of heavy litigation charges, a balance sheet that must be more efficient, and the poor overall returns to our shareholders."
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