Deutsche Bank profits fall

FRANKFURT, July 26 (AFP): Deutsche Bank reported Wednesday a heavy fall in second-quarter profits as Germany's biggest lender was hit by hefty charges related to legal disputes in the United States.

Net profit came in at 763 million euros ($845 million) from April to June, down 27 per cent from a year earlier, weighed down by nearly 400 million euros in litigation charges.

But the bank confirmed its 2023 targets and CEO Christian Sewing said it had "again demonstrated good growth momentum across a diversified business portfolio" in the first half.

While the lender has fought its way back to health in recent times after years of scandals, particularly in its investment banking division, it still faces a series of problems.

Earlier this month, the US Federal Reserve fined the bank $186 million for sanctions violations.