Trading revenues powered Deutsche Bank's pre-tax corporate and investment banking profits up more than half to €3.5bn ($4.5bn) in the first six months of the year as the German bank shrugged off a double-digit loss from equity proprietary trading in the second quarter.

Profits before tax rose by 53% from €2.3bn in the first half of last year, as net revenues from the corporate and investment banking business climbed a quarter to €10.2bn, outstripping a 17% rise in costs.