German lender Deutsche Bank reported a strong start to the year, with both pre-tax profits and net income rising 39% in the traditionally robust first quarter, driven by improved performance across all divisions and ongoing cost savings.

Deutsche Bank on Tuesday posted a 39% rise in first-quarter profit after its global investment banking division generated a big increase in revenue in bond and currency trading during volatile markets.

The group saw growth in its investment bank, private bank and asset management arms offsetting a decline in its corporate bank.