FRANKFURT, Germany — Deutsche Bank said on Wednesday it had suffered a loss of 143 million euros ($155 million) in the second quarter, as it booked a huge litigation provision over a legacy issue.
The group’s revenues had risen 2 percent from the same period a year ago, reaching 7.6 billion euros.
However, the bank took a 1.3-billion euro-charge related to the takeover of Postbank AG, that dragged down its bottom line.
Chief Executive Christian Sewing pointed to Deutsche Bank’s “operating strength” and said it was “well on track toward meeting our 2025 goals and our distribution commitments to shareholders.”
Deutsche Bank has undergone major restructuring in recent years, seeking to rely more on retail and corporate banking, after an aggressive shift in the early 2000s into investment banking that left it snared by multiple scandals.
The strategy has been largely paid off, with the bank reaping greater profits.
But investors can still be jittery about the bank ― its shares were hammered last year after the collapse of some US regional lenders and the enforced takeover of Credit Suisse by rival UBS.
Currently, the bank was also facing weakness in its home market, with Germany being the only major advanced economy that shrank in 2024.
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