John Cryan, Chief Executive Officer, said: “Our second-quarter results give a good summary of where we stand today. Profitability is significantly better than a year ago. We made good progress in bringing costs down and continued to attract net money inflows from clients.”

“Despite the significant improvement, this level of profitability falls short of our longer term aspirations. Revenues were not as universally strong as we would have liked, in large measure because of muted client activity in many of the capital markets. As we modernise our bank we are turning our focus onto building profitable growth.”

Pre-tax profit of € 822 million vs. € 408 million in the second quarter of 2016

Full press release (ENG)