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.

The following table summarizes the composition of loans:

 
in € m. Dec 31, 2003 Dec 31, 2002
German    
Banks and insurance 3,861 1,600
Manufacturing 8,668 9,388
Households (excluding mortgages) 14,161 13,768
Households – mortgages 25,445 25,226
Public sector 1,388 1,750
Wholesale and retail trade 5,133 4,549
Commercial real estate activities 11,629 15,841
Lease financing 855 416
Other 12,736 15,898
Total German 83,876 88,436
Non-German    
Banks and insurance 6,660 9,120
Manufacturing 7,487 13,157
Households (excluding mortgages) 6,915 6,937
Households-mortgages 8,416 7,276
Public sector 921 2,834
Wholesale and retail trade 6,691 9,918
Commercial real estate activities 1,977 2,519
Lease financing 3,138 3,905
Other 22,327 27,768
Total Non-German 64,532 83,434
Gross loans 148,408 171,870
Less: Unearned income 181 250
Less: Allowance for loan losses 3,281 4,317
Total loans, net 144,946 167,303

The “other” category included no single industry group with aggregate borrowings from the Group in excess of 10 percent of the total loan portfolio at December 31, 2003.

Certain related third parties have obtained loans from the Group on various occasions. All such loans have been made in the ordinary course of business and on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons. There were € 732 million and € 897 million of related party loans (excluding loans to equity method investees) outstanding at December 31, 2003 and 2002, respectively.

Nonaccrual loans as of December 31, 2003 and 2002 were € 6.0 billion and € 10.1 billion, respectively. Loans 90 days or more past due and still accruing interest totaled € 380 million and € 509 million as of December 31, 2003 and 2002, respectively.