Deutsche Bank to defend fixed-income trading

Positive outlook: A Deutsche Bank logo is seen at an office building in Frankfurt. The bank remains confident of maintaining its position as the fourth largest house globally in fixed income and currencies as measured by revenues. — Bloomberg

FRANKFURT: Deutsche Bank AG vowed to maintain its position in fixed-income trading after recording its weakest second quarter in that business since the global financial crisis, as chief executive officer Christian Sewing accelerates the lender’s turnaround effort.

Income from buying and selling fixed-income securities slumped 17% from a year earlier, to €1.37bil (US$1.6bil), the lowest figure for a second quarter since 2008. Equities trading fell 6%, Germany’s largest bank said yesterday.