Deutsche Bank pledged to cut risky assets from its balance sheet in response to regulatory concerns, as quarterly profit missed expectations, hit by a 630 million euro ($834.97 million) hike in litigation reserves.
Deutsche Bank posted a second quarter pre-tax profit of 792 million euros, well below the 1.3 billion euros forecast by analysts in a Reuters poll.
On Tuesday, Deutsche Bank shares closed around 3.9 percent lower.
The flagship lender's quarterly earnings stands in sharp contrast to peers. So far this reporting season, investment banking rivals like Morgan Stanley, Goldman Sachs, JPMorgan Chase & Co, and Bank of America Corp have beat analysts' profit expectations, thanks largely to strength in trading and underwriting.