Deutsche Postbank reports improving results
by Richard Kilner
Story link: Deutsche Postbank reports improving results
Deutsche Postbank AG has reported its financial results for the first half and second quarter of 2010.
The bank has continued its recovery, having achieved a pre-tax income of €225m in the first six months of 2010 compared to a loss of €100m during the same period last year.
The second quarter saw a similar improvement, with pre-tax income rising from €29m to €94m.
Chairman of the Management Board Stefan Jütte has expressed his confidence that Deutsche Postbank will record a net profit in its 2010 annual results.
However, Jütte sounded a cautionary note and stated that he did not believe the bank’s income in the second half of the year would match that of the first.
In June the bank took over 277 Deutsche Post retail outlets located throughout Germany, as part of its strategic Postbank4Future to enhance its retail banking business.