The following information is part of the consolidated financial statements as of 31 December 2003, which were audited and issued with an unqualified certificate by KPMG Deutsche Treuhand AG, Wirtschaftprüfungsgesellschaft.
This table sets forth information about the Group's impaired loans:
| |
| in € m. |
Dec 31, 2003 |
Dec 31, 2002 |
Dec 31, 2001 |
| Total impaired loans1 |
5,255 |
8,922 |
10,797 |
| Allowance for impaired loans under SFAS 1142 |
2,471 |
3,144 |
3,720 |
| Average balance of impaired loans during the year |
6,712 |
9,710 |
10,363 |
| Interest income recognized on impaired loans during the year |
70 |
166 |
248 |
| |
| 1 |
Included in these amounts are € 4.1 billion, € 6.0 billion and € 8.2 billion as of December 31, 2003, 2002 and 2001, respectively, that require an allowance. The remaining impaired loans do not require an allowance because either the present value of expected future cash flows, the fair value
of the underlying collateral or the market price of the loan exceeds the recorded investment in these loans. |
| 2 |
The allowance for impaired loans under SFAS 114 is included in the Group's allowance for loan losses. |
|