Deutsche Bank has declared a 19.5% rise in net revenue from its Corporate Banking & Securities business for the fourth quarter of 2014, up from €2.5 billion to just under €3 billion compared to 2013.
The uplift was driven by a 35% rise in net revenue in the Equity Sales & Trading division, up from €541 million in the last quarter of 2013 to €728 million in the last quarter of 2014.
Prime Finance income was up due to higher client balances and equity derivatives revenues were also up as a result of a strong performance in all regions, with Asia singled out as a region of note in its note to market.
Deutsche’s Debt Sales & Trading business also witnessed a 13% (€130 million) rise in net revenues to €1.1 billion, when comparing the fourth quarter of 2014 to the previous year.
However, revenue from the Rates business was lower against the 2013 period, with a “weaker performance” in Europe partially to blame.
Income from residential mortgage backed securities was significantly higher and foreign exchange revenues were up during the quarter due to higher client activity.
In a joint statement issued to investors, Jurgen Fitschen and Anshu Jain, co-chief executive officers, acknowledged the contribution that its CBS division had made to the bank’s results overall.
They said: “We increased net revenues in the fourth quarter by 19% year on year from €6.6 billion to €7.8 billion largely reflecting higher revenues in Corporate Banking & Securities, where we gained further market share across Fixed Income, and Corporate Finance during the year.”