Deutsche Bank trading revenue rises 16 percent, outperforming US competitors

Deutsche Bank has reported record revenue from its fixed-income and currency trading division. The division earned €2.6 billion in the second quarter, which is 16 percent more than the same period last year. Analysts had expected only €2.4 billion. The growth rate also beat the 13 percent average seen at major US banks. Most of the gains came from rates and currency trading. The bank's overall quarterly profit reached €1.9 billion. Its global investment banking division grew by 19 percent, well above forecasts. Deutsche Bank has focused on fixed-income trading since it closed its equities business some years ago. Costs rose 8 percent during the quarter, partly because the bank paid €100 million to leave its retail operations in India.