Deutsche Bank said it will repurchase shares worth 500 million euros after recording a sharp increase in profits. Germany's largest bank said on Wednesday that it achieved pre-tax profit of 2.68 billion euros for the quarter ending June, an increase of 11% over the same period last year, and also higher than the company's consolidated analysts' average estimate of 2.25 billion euros. The bank said it will use this year's net profit to buy back 500 million euros of its own shares. Previously, the bank had recently completed a 1 billion euro share repurchase. Chief Financial Officer Raja Akram said, “We are still capable of investing in our business and delivering significant returns to our shareholders.”

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