July 28, 2009

Deutsche Bank has bounced back from the financial crisis by posting a 67% jump in profits, thanks to a strong performance by its corporate and investment banking operations.But Germany's biggest bank also admitted that it increased its bad debt provisions by €1bn (£860m) in the last quarter, adding to fears of more bankruptcies across the business sector.

Deutsche Bank reported this morning that it made net profits of €1.1bn in the second quarter of this year, up from €645m a year ago, beating expectations.The results show that investment banking has staged a rapid recovery. Deutsche's net profits from corporate banking - activities such as interest rate trading and lending to companies - more than doubled.