Fixed income traders at Deutsche Bank could be in line for a 10% increase to their annual bonuses following a stand out year for a business unit which has helped the German lender weather the worst of the Covid-19 pandemic.

Deutsche Bank said during an investor day earlier this month that it was on target to gather €9.2bn in revenues across its investment banking division this year — a 31% increase on 2019 — as fixed-income trading revenue and investment banking advisory work has grown significantly during the Covid crisis.