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Deutsche Bank Traders See Revenue Jump to Beat Wall Street
['Arno Schütze', 'Oliver Crook', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
(Bloomberg) -- Deutsche Bank AG's revenue from fixed-income trading jumped in the second quarter as the unit outperformed most of its US peers.
The increase exceeded the average across the big Wall Street banks, at 13%, according to Bloomberg Intelligence.
Deutsche Bank said the result was a record for the second quarter, helping to push profit in the period to €1.9 billion.
Shares in Deutsche Bank rose as much as 6% and were 3.9% higher at 9:22 a.m. in Frankfurt.
Chief Executive Officer Christian Sewing has pledged to boost profitability and investor payouts as he seeks to close a persistent valuation gap between Deutsche Bank and many of its European peers.