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By Tom Sims and Jörn Poltz

FRANKFURT, April 29 (Reuters) - Deutsche Bank DBKGn.DE reported its largest-ever profit under CEO Christian Sewing on Wednesday despite higher credit risk provisions and negative currency impacts.

The lender also upgraded its outlook for revenue at the investment bank for 2026, expecting revenue to be higher rather than just slightly higher.

Deutsche, Germany's largest lender, recorded net profit attributable to shareholders of 1.912 billion euros ($2.22 billion) in the quarter, up from a profit of 1.775 billion euros a year earlier. It was better than analysts' expectations for a profit of 1.768 billion euros.

"This achievement is even more remarkable given the increasingly uncertain geopolitical environment since the beginning of the year, especially the conflict in the Middle East," Sewing said in a message to staff.

Deutsche Bank is one of a number of European banks reporting earnings this week.

The quarter - the first in a new three-year period in which Deutsche has pledged to meet more ambitious profitability and cost targets - comes as the Iran war disrupts the economy and markets, and as fears around the health of private credit rattle investors.

Analysts at Standard & Poor's last week warned that risks for European banks are rising, citing higher inflation, slower growth, market turbulence, and exposure to vulnerable corporate sectors including chemicals.

Deutsche Bank recorded provisions for credit losses of 519 million euros, up from 471 million euros a year ago and higher than analysts' expectations for 447 million euros.

The bank said provisions include an overlay "reflecting macroeconomic uncertainties".

The global investment bank remained the largest contributor to revenue during the quarter, though revenue was flat, as expected. A weaker dollar weighed on the bank’s euro-denominated earnings.

Within the investment bank, revenue from fixed-income and currency trading, one of its largest businesses, fell 1%, outperforming expectations for a 3% fall. By comparison, such revenue was up 21% at JPMorgan and down 10% at Goldman Sachs .

Revenue from origination and advisory services climbed 5%, slightly below expectations for a 5.9% increase.

Revenue at Deutsche's other two big divisions was mixed. Retail banking revenue was up 5%, slightly ahead of expectations for a 4.4% rise, while the corporate bank saw a 3% fall in revenue, compared with analysts’ forecasts for a drop of about 0.8%.

($1 = 0.8544 euros)