Deutsche Bank profit up 10%, defying expected decline, as investment bank booms

Revenue at Deutsche's other two big divisions was more muted.

At the retail division revenue was up 8%, slightly ahead of expectations for a 7.3% rise. The corporate bank saw a 1% rise in revenue, while analysts had seen a drop of around 1.2%.

($1=0.8772 euros)

Profit in the quarter was partly damped by an increase of 8% in expenses, among them a hit of nearly €100 million from the exit of the bank's retail business in India, announced at the end of June.

Deutsche's global investment bank remained the biggest revenue generator in the quarter, with revenues rising 19%, more than an expected 7.6% increase.

Within the investment bank, revenue at its fixed-income and currency trading business, one of the bank's largest, rose 16%, better than expectations for a 5.1% increase.

Such revenue was up 13% on average for the top five U.S. banks, ranging from 6% at JPMorgan to 32% at Goldman Sachs. Deutsche's division also outpaced European rivals Barclays and BNP Paribas.

Business including origination and advisory services was 36% higher, versus expectations for a rise of 18%. Deutsche Bank was among the lenders helping with SpaceX's IPO and Alphabet's capital-raising.

FRANKFURT, July 29 (Reuters) - Deutsche Bank DBKGn.DE posted on Wednesday a rise of 10% in second-quarter profit, defying expectations for a drop, as strength at its global investment banking division offset a rise in expenses.

Germany's largest lender recorded net profit attributable to shareholders of €1.64 billion ($1.87 billion) in the quarter, up from €1.49 billion a year earlier, bettering analysts' expectations for a profit of €1.38 billion.