Net profits reached 401 million euros (RM1.903 billion) on the back of 6.6 billion euros (RM31.3 billion) in revenue, in line with preliminary figures the lender released earlier this month.

Analysts surveyed by data company Factset had earlier forecast profits of around 120 million euros (RM569 million), but the result was still 14% lower than last year’s second-quarter earnings of 466 million euros (RM2.211 billion).

“We accelerated the reshaping of our bank significantly and proved the resilience of our global business” between April and June, said CEO Christian Sewing, who took over from crisis firefighter John Cryan in April with promises of a far-reaching shakeup.

Deutsche highlighted some 239 million euros (RM1.134 billion) in costs for restructuring and employee severance – twice as much as the same quarter last year – as around 1,700 workers left.

It added that it was “on track” to slash another 1,500 from its total headcount to dip below 93,000 by the end of the year, with a further ambition to shrink “well below” 90,000 by the end of 2019.

Meanwhile, it finished integrating of subsidiary Postbank into its retail banking division in May.

In its investment banking division, Deutsche reported “substantial” reductions in “leveraged”, or borrowing-fuelled, holdings of stocks and bonds, accounting for most of an 85-billion-euro (RM403 billion) reduction in such exposures across the bank.

There was slower progress on cutting costs, which fell 1% to 5.6 billion euros (RM26.6 billion) in adjusted terms in the second quarter.

But executives said they remained committed to reducing outlays from last year’s 23.8 billion euros (RM112.9 billion) to 23 billion (RM109.1 billion) in 2018.