Deutsche Bank AG will repurchase $740 million of debt, less than half its target, as easing capital concerns discourage investors from giving up the notes.

Less than $1 million of notes were tendered in the last 10 days of a buyback, according to a statement on Monday. About $740 million was offered before an early-tender deadline last month. The buyback covered eight series of senior unsecured notes, including some issued in January.

The bank offered to repurchase as much as $5.4 billion of bonds in dollars and euros on Feb. 12, as management sought to reassure investors following a slump in its stock and debt. The euro portion of the tender was also undersubscribed, at 1.27 billion euros ($1.4 billion), which the Frankfurt-based company said was due to improved investor confidence.

The lender expects to book a profit of about 55 million euros in its first-quarter results from both portions of the buyback, it said. The euro-bond buyback closed last month.

The cost of insuring Deutsche Bank’s senior debt has fallen almost 50 percent since the day before the debt buyback was announced. The bank’s stock has risen 35 percent. Still, the shares are down 18 percent this year, compared with an 11 percent drop for the Euro Stoxx Banks Index.

Deutsche Bank began the buyback days after CreditSights Inc. analysts said a capital squeeze could prevent coupon payments on the lender’s riskiest bonds next year. The bank rebuffed that assessment, with Co-Chief Executive Officer John Cryan saying the lender was “rock solid.”

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