Deutsche Bank earnings Q2 2018

Krisztian Bocsi | Bloomberg | Getty Images

Statues stand outside a Deutsche Bank AG branch in Frankfurt, Germany.

Here are some key highlights:

• Profit before tax of 711 million euros ($830.48 million), down 13 percent on the year.
• Net income of 401 million euros ($468.39 million)
• Common Equity Tier 1 (CET1) ratio increased to 13.7 percent from 13.4 percent in the previous quarter

Christian Sewing, chief executive officer of the bank, said in a statement: “In the second quarter we accelerated the reshaping of our bank significantly and proved the resilience of our global business. We’re making important changes to our core businesses as promised, we’re headed in the right direction on costs, and our balance sheet quality is strong.”

One of the most significant changes has been to its workforce. As part of Deutsche Bank’s restructuring plans, the number of internal employees stood at 95,429 at the end of the quarter, the lowest level since 2010. Nonetheless, the bank said it is committed to continue reducing its workforce as part of the measures presented last April. As a result, 2,100 people have lost their job since the start of the year and the aim is to bring the number of workers down to 93,000 by the end of the year.

Deutsche Bank went through a management reshuffle last April, when Christian Sewing moved from the private and commercial side of the bank to chief executive. As a result, at the time of the appointment many analysts questioned the future of the investment banking arm of Deutsche Bank.

The corporate and investment banking unit reported Wednesday revenues of 3.57 billion euros ($4.17 billion) down from 3.85 billion euros in the first quarter of 2018. Revenues in fixed income sales and trading stood at 1.4 billion euros, down 17 percent year-on-year and equity sales and trading fell 6 percent at 540 million euros.