Deutsche Bank more than doubled dealmaking revenue in the second quarter, as a surge in investment banking fees helped offset a €1.3bn hit from litigation tied to its retail unit.

The German lender posted revenue of €2.6bn for its investment bank in the second quarter of 2024, up by 10% on the same period a year earlier. This was driven by a 101% increase in fees from its dealmaking unit, as its hulking fixed income trading business slipped.