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Deutsche Bank profits beat expectations as well as potential bad debt

Deutsche Bank reported a 6% increase in profits for its second quarter, with €1.16 billion in net income, a good couple of hundred more than most analysts were expecting. That is sufficient to cover its entire holding of Greek sovereign debt, if that country goes belly-up. But the bank is clearly not worried about bad debt; provisions for bad loans dropped from €1 billion in the same quarter last year to just €243 million. Bloomberg

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