Deutsche Bank’s profit of £162m thanks to a surge in bond trading

Deutsche Bank has dragged itself into the black for the first time since early last year

Deutsche Bank has dragged itself into the black for the first time since early last year as a surge in bond trading buoyed business.

Germany’s biggest lender posted an overall profit of £162 million in the three months to September, compared with a loss of £842 million over the same period last year.

The surprise profit will give shareholders hope that the restructuring plan launched by chief executive Christian Sewing last year is paying off.

Costs were down 10 per cent year-on-year, and revenue in its struggling investment bank jumped 43 per cent to £2 billion. Partly this was due to a surge in trading because of market volatility. JPMorgan analysts said the Deutsche results were a ‘positive surprise’.