Deutsche Bank, which last year expanded its wealth management operations with the purchase of Sal Oppenheim, said yesterday it expects total net revenues across the entire group to be around €7.4 billion (around $10.2 billion) in the final quarter of 2010, up from €5.5 billion a year ago.

Due to first time consolidation of Deutsche Postbank and acquisition-related costs as well as accelerated investments made to realign the bank - such as the Sal Oppenheim deal - Deutsche Bank’s non-interest expenses rose to €6.3 billion, against €4.2 billion in the same three months of 2009, the firm said in a brief statement ahead of full-year results to be released on 3 February.

Due to these developments, the Frankfurt-listed bank said it expects to make a pre-tax income in Q4 of about €700 million, down from €756 million, and a net income of approximately €600 million (Q4 2009: €1.3 billion, reflecting special tax items).