'The more favorable environment combined with persistently high central bank liquidity benefited both the stock markets, which reached their highest levels in over a year, and the issuance of equity and debt capital', Deutsche Bank said in the statement. 'Therefore it is likely that investment banking and asset management revenues achieved moderate growth in spite of a decline in trading volumes'.
In the meantime Bloomberg also reports that Standard Chartered, which paid $340m to settle a money-laundering probe by a New York regulator, said operating profit in the first nine months rose by a 'mid single digit' rate as growth in Asia slows.
Revenue grew at a 'high single digit rate, maintaining the trajectory seen in the first half' excluding the New York settlement, the London-based bank said in a statement Tuesday. The bank forecast full-year revenue growth of at least 10%, it said in August.