Weak credit markets hit Deutsche Bank’s bottom line

Deutsche Bank reported a big decline in fourth quarter sales and trading profits, singling out the fall in flow and client-driven credit business as a main reason for the poor performance. Today, the bank reported that sales and trading net revenues (comprising debt and other products) were €1 billion in the final quarter – down €596 million on the same period last year. It blamed the decline on weakened credit markets, lower client volumes and reduced liquidity.

For the whole of last year, net revenue in the division stood at €8.6 billion - down €1.3 billion on 2010.