FRANKFURT, Germany (AP) Germany’s struggling Deutsche Bank says
net profit fell to 401 million euros in the second quarter from
466 million euros a year earlier as the bank incurred higher
costs from its restructuring.
The profit beat analyst estimates for 209 million euros and the
bank said it was making quicker progress in cutting costs and
reshaping its business model after three years of losses.
The number of employees fell by 1,700 to 95,400, and the bank
confirmed its target of fewer than 90,000 by the end of next
year. Expenses for external vendors and services fell.
CEO Christian Sewing, who took over in April with a mandate to
speed the bank’s trans…
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