Hamburg-based Berenberg Bank said it recorded a net profit of €65.1m in 2009, up 38% from the previous year. The bank said it was the best profit result in its 420-year history.

With an additional 1,000 clients, the bank said net inflow of assets into its private banking business totalled €1.4bn last year. The figure is on top of the €1.3bn of new money added in 2008.