Deutsche Bank’s global transaction banking (GTB) division has seen an increase in net revenues due to substantial growth in its trade finance products.

Deutsche’s GTB generated revenues reached €929mn in Q4 2011− an increase of €62mn, or 7% compared to Q4 2010.

For the full year, GTB’s net revenues hit a record €3.6bn, an increase of 7%, or €229mn, compared to 2010 which included €216mn related to negative goodwill from the acquisition of the commercial banking activities in the Netherlands.

This increase was driven by a record performance across all of the bank’s businesses with growth in fee and interest income, Deutsche says in its results statement today.