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Deutsche Bank rides Spac boom as investment bank profits surge by 134%
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Deutsche Bank's investment bank fuelled its best quarterly profit in seven years as the German lender reaped the benefits of the boom in special purpose acquisition companies that reached all-time highs in the first quarter.
The bank made a net profit of €1bn in the first three months of the year, up from €206m last year and ahead of the €670m expected by analysts. Revenues of €7.2bn were up by 14%, its best quarter since 2017.
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