Commerzbank's investment bank sees 40 percent jump in first-quarter oper profit

FRANKFURT (Reuters) - Commerzbank's (CBKG.DE) investment banking division saw a 40 increase in operating profit in the first quarter, driven primarily by a surge in debt and currency trading, the bank said on Thursday.

Market volatility in the first three months of the year led clients to increase trading activity, which drove commissions and fees higher for the investment bank, Commerzbank said in a statement.

The fixed income and currencies division saw revenue rise by 45 percent to 196 million euros (146 million pounds), while the equities and commodities division saw revenue increase by 14 percent.

The bank, Germany’s second-largest, had already reported preliminary Q1 numbers that showed group net profit jumping by 83 percent to 366 million euros as business improved in all its operating divisions and as losses narrowed in its so-called bad bank that holds assets it has been selling off since the financial crisis.

(Reporting by Thomas Atkins; Editing by Maria Sheahan)