Berenberg, the German private bank which made a name for itself last year with roles on a number of large initial public offerings, saw 2013 profits increase almost 10% from a year previous, with the investment bank leading the way.

The bank delivered revenues of €309.2 million in 2013, according to results published today, up from €289.7 million the previous year. Commission income increased 13.5% to €234.4 million, the highest level ever reported by the firm. Profits increased to €66.1 million, up 9.8% on 2012.