Deutsche Bank traders are risking more money than at any time in the past two years but a 40% surge in sales and trading revenues over that period suggests their bets are paying off.

Revenue from sales and trading hit a fourth-quarter record of €2.9bn ($3.8bn) last year, up a quarter on the same period in 2005 and 40% more than the €2.1bn it earned in the final three months of 2004.