Deutsche Bank's second-quarter 2009 report has unveiled improved net revenues of €7.9bn from the same period last year, thanks to increased structured products sales.
Equity sales and trading during the last six months represented revenues of €903m, the highest for the last six quarters, up from the €830m achieved in the same period of 2008. These results reflect a significant year-on-year improvement in equity derivatives trading, mainly in European flow and structured products, as well as improved volumes in cash equity trading, said the bank. Equity sales and trading revenues were €73m, or 9% higher than in 2008's second quarter.
"We have witnessed stabilisation of the world's banking industry and financial markets. Increased liquidity and lower volatility in financial markets are both supportive for our business," said chairman Josef Ackermann. "Our strategic focus and proven business model, our leading franchises in critical areas and our financial strength all position us well to take full advantage of opportunities as and when business conditions improve."
According to the group's highlights, its Corporate Banking & Securities business produced net revenues, for 2009's first quarter, of €4.6bn, up 110% on the previous year. These results were driven predominantly by revenues in sales and trading, which were €3.5bn, compared with revenues of €1.4bn, after €2.1bn of mark-downs, the previous year.
Deutsche Bank's corporate and investment bank achieved net revenues, for the second quarter, of €5.3bn, up 84% on the same quarter of 2008.