Credit trading bounces back for Deutsche Bank

Deutsche Bank today reported €1.3 billion of revenue from sales and trading of debt and other products. This was up substantially on the same quarter last year when results were dented by credit prop trading losses and write-downs.

The bank said that for the year as a whole, credit trading put in a strong performance after “a successful reorientation towards more liquid, client-driven business, which included the closure of the bank's dedicated credit proprietary trading platform”.

It is just over a year since Deutsche Bank closed down the credit prop desk run by Boaz Weinstein. However, Creditflux understands that Deutsche has recently moved to re-establish some element of credit prop trading. See Don’t tell Obama: prop desks are all the rage.