Deutsche Bank AG posted a second-quarter loss on Wednesday despite a strong performance by its investment bank boosting quarterly income, but its bad debt provisions hit their highest level in more than a decade.

The German bank has set aside 761 million euros ($ 891.5 million) to cover credit losses, adding to the roughly half a billion euros it set aside in the first quarter. Like other banks in Europe and the United States, the lender is bracing for a potential wave of loan losses caused by the coronavirus pandemic. Earlier this month, U.S. banks JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. took $ 28 billion in bad debt charges.

However, provisions are lower than the 818 million euros forecast by analysts, according to a consensus forecast provided by the bank.

Deutsche Bank recorded a loss attributable to shareholders of 77 million euros compared to a loss of 3.27 billion euros a year earlier when heavy restructuring charges weighed on results. This is the fifth consecutive loss in such a quarter for the bank.

Including the non-controlling interests and other components, the bank generated an after-tax profit of 61 million euros. This compares to a loss of 3.15 billion euros a year earlier and analysts’ expectations of a loss of 46 million euros.

Germany’s largest bank is heading for another year in deficit, analysts predict, after losing € 5.3 billion last year. Deutsche is undergoing a major restructuring, which includes the loss of 18,000 jobs and the closure of companies.

Revenue increased 1% to 6.29 billion euros, exceeding expectations of 6.11 billion euros. Investment banking income grew 46% year on year, with rate income up 39%.

“In a challenging environment, we increased our revenues and continued to reduce our costs, and we are on track to meet all of our goals,” said Managing Director Christian Sewing.