Germany's Deutsche Bank sees higher-than-expected Q2 profit

BERLIN (AP) — Germany's biggest bank, Deutsche Bank, says it foresees considerably higher-than-expected earnings for the second quarter — results that it says underline the company's "resilience."

The Frankfurt-based bank said Monday it expects net profit of about 400 million euros ($467 million) for the April-June period. The company said its brief preliminary earnings statement, ahead of a full earnings report July 25, was triggered under German regulatory rules by the fact the results are far above analysts' average forecast. For net income, that was 159 million euros.

The bank has struggled to cut costs and return to profit after three straight full-year losses. The latest figures appear to be good news for new CEO Christian Sewing, and the company said "management believes that these results demonstrate the resilience of the franchise."

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