Deutsche Bank posted a 39 per cent rise in first-quarter profit after its global investment banking division generated a big increase in revenue in bond and currency trading during volatile markets.

Deutsche, Germany’s largest lender, recorded net profit attributable to shareholders of 1.78 billion euros in the quarter, up from 1.28 billion euros a year earlier.

It was higher than analysts’ expectations for a profit of around 1.64 billion euros.

The figures kick off a crucial year for Deutsche as it winds up a three-year plan and attempts to meet a series of targets that some analysts deem overly ambitious.

The results “put us on track for delivery on all our 2025 targets”,” CEO Christian Sewing said.