Deutsche Bank AG, Germany's biggest bank, reported a 48% increase in first-quarter profit as record earnings at the investment bank outweighed a loss from asset and wealth management.

Net income rose to 1.76 billion euros ($2.35 billion), or 2.66 euros a share, from 1.19 billion euros, or 1.92 euros, in the year-earlier period, Deutsche Bank said Tuesday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.