Deutsche Bank, renowned for the seasonality of its results, fell victim to a sharp fall in debt sales and trading during the second quarter of the 2011, a period which was also its worst for equities trading in over two years.

The German bank this morning reported that revenues from its corporate banking and securities division fell 32% quarter on quarter to €4bn. This figure compares with €6bn in the first quarter of 2011, but is up 9% on the second quarter of 2010.