Deutsche Bank Share Prices (NYSE:DB) went up as the company reported profits for the second quarter of the year. According to the report, the banking firm was successfully able to have a net income of more than a billion euros. The companies success for the quarter is being attributed to the growth in the retail and transaction banking which was able to offest the decline in sales and trading. Also the rise in business confidence in Germany played an important role in the growth of the banking firm.
Many analysts had expected the companies profits to be far less than that. The Deutsche Bank was not the only European financial firm that reported profits – UBS which is one of the largest financial service providers also reported heavy profits for its second quarter results.
Both UBS (NYSE:UBS) and Deutsche Bank (ETR:DBK) had been badly affected due to the economic crisis in 2008 however it is being expected that both companies will be show healthy growth during the year.
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Posted in: Business | Tags: bank, deutsche, price, share
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