Qatar has increased its stake in Germany’s Deutsche Bank to just under 10 per cent.

The investment was made by Qatari investment vehicles Paramount Services Holdings and Supreme Universal Holdings. Qatar has held a 6.1 per cent stake in Deutsche Bank since August 2015.

Qatar is continuing to invest overseas despite lower energy prices dampening state revenues. In June the Qatar Investment Authority (QIA) agreed to purchase Singapore’s Asia Square Tower 1 from US investment firm BlackRock for $2.5bn in the largest-ever single-tower real estate deal in the Asia-Pacific region.

In March, QIA has acquired a $1.34bn building in Los Angeles, in a joint venture with local partners Douglas Emmett.