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Deutsche Bank sees record profits

Banking giant Deutsche bank has recorded a 55 per cent increase in profits over the first quarter of this year, pushing net income to record levels.

Profits were up to $2.15 billion over the three-month period, largely thanks to increased revenue from the trading of shares.

This completely defeated industry analysts, who had predicted much more modest profits for the German bank.

Dr Josef Ackermann, chairman of the management board at Deutsche Bank, said that the good results showed that the market was profitable for those providing investment management services.

"This was the most profitable first quarter in Deutsche Bank's history," he said.

"Market conditions were favorable: the world's capital markets performed strongly; levels of corporate activity, above all in Europe, remained high, with positive momentum in Germany; and demand for investment management solutions from individuals and institutions was robust."

He added that the bank's focus on growth business and growth markets was also key to its success.

Deutsche Bank's profit increase was helped by an increase of 25 per cent in trading revenues – from buying and selling shares, bonds and other securities – boosting revenues to around $3.7 billion.