Deutsche Bank reported a net profit of €763 million for Q2 2023, beating expectations despite a 27% decline from the same quarter in 2022. Net revenues rose 11% YoY to €7.4 billion. However, non-interest expenses increased by 15% YoY to €5.6 billion, with adjusted costs up 4% to €4.9 billion. The bank's corporate and private banking divisions saw strong revenues, while its investment banking and asset management divisions experienced declines. Deutsche Bank plans to initiate up to €450 million of share buybacks this year and expects to return over €1 billion in capital to shareholders in 2023.

The post Deutsche Bank Beats expectations despite 27% drop in profit, jump in costs appeared first on Balanced News Summary.