Deutsche Bank AG said Tuesday net profit increased 49% in the first quarter, lifted by record profit at its corporate and investment banking unit and fewer write-downs.

Germany's largest listed bank posted also said it remained on track to reach a pretax profit target of €10 billion ($13.37 billion) by 2011 as it renews its focus on investment banking and expansion in Asia. The outlook for the second quarter looks positive and investment banking will remain a strong earnings driver for the rest of 2010, Finance Chief Stefan Krause told analysts.