FRANKFURT, Germany (AP) — Deutsche Bank says its net profit rebounded to 466 million euros ($545 million) in the second quarter from a mere 20 million euros a year earlier.

CEO John Cryan said the bank was making progress in cutting costs and increasing profitability as it weathers a difficult long-term restructuring. But he added that the performance “falls short of our longer-term aspirations.”

The bank incurred lower costs for restructuring and litigation, and attracted 9 billion euros ($10.6 billion) in investment into its retail banking and asset management businesses. Its headcount continued to shrink as it cut costs and was down by 4,600 full-time jobs from a year ago, to 96,700.

The net profit figure fell short of analysts’ expectations for 571 million euros as compiled by financial information provider FactSet.