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Deutsche Bank's Profits Surge Amid Job Cuts and AI Strategy
2025-07-24 10:30:13
Banking
Business
Companies

Deutsche Bank's Profits Surge Amid Job Cuts and AI Strategy

Deutsche Bank has announced its financial results for the second quarter, reflecting a positive trend in profitability. Analysts anticipated a robust profit increase compared to last year, when legal costs heavily impacted earnings.

In the first quarter, the bank had already seen significant growth in pre-tax profits and surplus. CEO Christian Sewing aims to enhance profitability to over 10% return on equity by 2025, leveraging cost savings through streamlined operations and the use of artificial intelligence.

The bank also plans to cut around 2,000 jobs and reduce the number of branches this year. Deutsche Bank's recent performance has surpassed expectations, with the second quarter of 2022 marking the highest profit since 2007. The bank's pre-tax profit reached €2.4 billion, and net profit stood at €1.5 billion, driven by a 3% increase in revenue.

Shareholders and analysts have reacted positively to these results, particularly due to the bank's strong investment banking sector performance.

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