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Profit of Deutsche Bank dropped in Q2 2014

Deutsche BankDeutsche Bank AG announced profit decrease by 29% yoy in Q2 2014, caused by lower non-interest profits and higher taxation. The net profit of the lender in the three months to the end of June fell to 237 million EUR compared to 334 million EUR for the same period last year. Remained below the level expected by experts polled by Bloomberg for a profit of 470 million EUR. The global investment banks try to cut costs in order to push up profits amid tighter regulations and record-low interest rates of central banks tightened in recent years, proceeds from loans and trading bonds.
“Nobody expects a good performance against the very difficult revenue environment”, said before a statement Stephan Bongard, an analyst at Independent Research GmbH. “The company needs to show investors that the trend in trade debt will change in the coming quarters. Their patience is not infinite”, he added.