Deutsche Bank Caps Top Year for Debt Trading With 17% Gain
- Trading unit hands CEO Sewing first clean profit in six years
- All other operating businesses shrank in the fourth quarter
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Deutsche Bank AG closed out a bumper year for trading with a result that beat most Wall Street peers, handing Chief Executive Officer Christian Sewing the first annual profit in six years as he leans increasingly on the investment bank.
Revenue from fixed-income trading rose 17% to 1.38 billion euros ($1.66 billion), Germany’s largest lender said Thursday, confirming a Bloomberg News story earlier this week. That compares with an average increase of about 10% at the five biggest Wall Street banks. For the full year, Deutsche Bank posted a net income attributable to shareholders of 113 million euros, the first annual profit by that measure since 2014.