[ by Melanie Gretchen ]

The Libor scandal didn't hurt every firm in the pocketbook.  The manipulation of Libor cost Barclays and UBS $453 million  and $1.5 billion in respective settlements.  Deutsche Bank, on the contrary, the German bank, made hundreds of millions of dollars from trades in 2008 – none of which affected the market or were illegal, the Wall Street Journal first reported.

How much did Deutsche Bank make? According to the newspaper, the bank's 2008 bets made at least €500 million ($654 million) in profit from trades worth billions related to Libor and other global benchmark rates.  Libor is the daily figure detailing the estimated rates at which banks lend to one another. 

"This strategy, which was subject to the bank's risk limits and used by many in the marketplace, diversified and lowered the bank's portfolio risk during the peak of the financial crisis. It was based on a market view about the likely direction of interest rates and not on any belief that the bank could inappropriately influence interbank lending rates." -- a bank spokesperson, in an interview with CNBC.com.

For further details, go to [CNBC, 1/10/13] and our Behind the News story, [UBS & Barclays Libor Settlements].