Deutsche Bank Q2 profit up 16 percent, debt trading steady

FRANKFURT, July 29 Tue Jul 29, 2014 1:13am EDT

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FRANKFURT, July 29 (Reuters) - Deutsche Bank reported a 16 percent year-on-year increase in quarterly pretax income to 917 million euros as net revenue from debt trading held steady.

The bank increased reserves for future litigation or settlements by 470 million euros to 2.2 billion.

The bank, which completed an 8.5 billion euro capital hike in June, posted a common equity tier 1 (CET1) ratio of 11.5 percent at the end of June.

Deutsche Bank had been expected to post pretax profit of 590 million euros, according to the average result of a Reuters poll where the 10 sample estimates spanned a wide range from a 694 million euro loss to a 1.1 billion gain. (Reporting by Thomas Atkins and Arno Schuetze)

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