FRANKFURT: Deutsche Bank posted on Thursday a better-than-expected 10% rise in first-quarter profit as a resurgence in fixed-income trading and deal-making propelled revenue at the investment bank.
Net profit attributable to shareholders was 1.275 billion euros ($1.37 billion) in the quarter. That compares with profit of 1.158 billion euros a year earlier, and it is better than analyst expectations for profit of around 1.2 billion euros.
The gains mean that the investment bank was able to reclaim its position as Deutsche’s biggest breadwinner from its giant retail division that had recently benefited from higher interest rates but suffered from customer service glitches.
The group’s figures mark the 15th consecutive quarter of profit - a considerable streak in the black for Deutsche after hefty losses during the last decade.
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