Deutsche Bank’s asset and wealth management unit saw net revenues increase 57% in the second quarter year-over-year, according to its latest quarterly earnings report.

The unit earned net revenues of $1.25 billion in the second quarter, buoyed by Deutsche Bank’s first-quarter consolidation of the Sal. Oppenheim Group, which includes BHF Bank, accounting for $191.6 million of second-quarter revenue.

Deutsche Bank’s private wealth management unit's revenues rose 92%, largely because market increases meant more assets, which translated into higher fee revenues for the bank. The unit also benefited from a weak Euro, the earnings release said.

Advisory/brokerage unit revenue rose 34% due to increased investment activity by clients.

 

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access