Germany's Deutsche Bank AG said Thursday it swung to a net profit in the fourth quarter, lifted by a tax break, and that its strong 2009 performance in corporate and investment banking helped lift its capital base to record-high levels.

Net profit in the three months to Dec. 31 was a better-than-expected €1.32 billion ($1.83 billion), compared with a net loss of €4.79 billion a year earlier. Analysts had forecast net profit of €660 million profit.