By Jenny Strasburg 

Deutsche Bank AG on Thursday reported net income of EUR466 million ($548 million) in the second quarter, compared with EUR20 million for the same period a year earlier year.

The German lender said its second-quarter revenue was EUR6.6 billion, a 10% decrease from last year.

Expectations for the quarter were muted, with analysts projecting Deutsche Bank to manage a narrow profit of about EUR169 million, according to consensus estimates of 12 analysts compiled by the bank.

The lender is going through its second major restructuring in less than two years, recombining its investment bank and trading divisions and folding in a German retail-banking business, Postbank, that it had intended to sell. It is now integrating Postbank and has closed hundreds of bank branches as part of broader cost-cutting moves.

Deutsche Bank brought on a new chief financial officer, former Citigroup Inc. Treasurer James von Moltke, who started this month. Ex-banker-turned-CFO Marcus Schenck is now overseeing the recombined investment bank along with trading-unit chief Garth Ritchie.

Chief Executive Officer John Cryan and his management team are under pressure to rejuvenate Deutsche Bank's lagging revenues after raising EUR8 billion in capital from shareholders earlier this year.

Write to Jenny Strasburg at jenny.strasburg@wsj.com

(END) Dow Jones Newswires

July 27, 2017 01:49 ET (05:49 GMT)