Deutsche Bank profit surpassed expectations of analysts

The biggest German bank Deutsche Bank AG announced that its profit for the second quarter increased by 68 percent as a result of increased revenue from trading stocks and obligatsii.Netnata profit reached 1.09 billion euros or 1.64 euros per share, from 649 million euros a year ago. Revenue topped analysts’ expectations of 944 million, reported Bloomberg. According to Chief Executive Officer of the Bank Joseph Akerman, banking industry and financial markets have stabilized during the quarter which led to a fourfold increase in profits from the sale of bonds and an improvement in trading in shares. Credit Suisse Group AG, Goldman Sachs Group Inc. and JPMorgan Chase & Co. also generated higher profits from trading in the quarter. Shares of Deutsche Bank to get 87 percent this year, which makes them sixth consecutive index of 63 financial companies on the Bloomberg. The Bank reported a second consecutive quarterly profit after it recorded its first annual loss in more than 50 years in 2008

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Finance