Record investment banking and investment management revenues and its second-best quarter in capital markets propelled net profits at Lehman Brothers up 74% to a record $879m (€716m) in the three months to the end of August. Revenues soared 47% to $3.9bn.

Net profits for the first nine months to the end of August also hit a record of $2.4bn, 37% up from last year on a 26% climb in revenues to $10.9bn .