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 29 of 32 
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| Balance Sheet in € m. |
2004 |
2003 |
2002 |
2001 |
2000 |
| Total assets |
840,068 |
803,614 |
758,355 |
918,222 |
928,994 |
| Loans, net |
136,344 |
144,946 |
167,303 |
259,838 |
274,660 |
| Liabilities |
814,164 |
775,412 |
728,364 |
878,029 |
885,311 |
| Total shareholders’ equity |
25,904 |
28,202 |
29,991 |
40,193 |
43,683 |
| Tier I risk-based capital (BIS) |
18,727 |
21,618 |
22,742 |
24,803 |
23,504 |
| Total risk-based capital (BIS) |
28,612 |
29,871 |
29,862 |
37,058 |
39,343 |
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| Income Statement in € m. |
2004 |
2003 |
2002 |
2001 |
2000 |
| Net interest revenues |
5,182 |
5,847 |
7,186 |
8,620 |
7,028 |
| Provision for loan losses |
372 |
1,113 |
2,091 |
1,024 |
478 |
| Commissions and fee income |
9,506 |
9,332 |
10,834 |
10,727 |
11,693 |
| Trading revenues, net |
6,186 |
5,611 |
4,024 |
6,031 |
7,625 |
| Other noninterest revenues |
1,044 |
478 |
4,503 |
4,163 |
8,133 |
| Total net revenues |
21,546 |
20,155 |
24,456 |
28,517 |
34,001 |
| Compensation and benefits |
10,222 |
10,495 |
11,358 |
13,360 |
13,526 |
| Goodwill amortization/impairment and impairment of intangibles |
19 |
114 |
62 |
871 |
771 |
| Restructuring activities |
400 |
(29) |
583 |
294 |
125 |
| Other noninterest expenses |
6,876 |
6,819 |
8,904 |
12,189 |
12,710 |
| Total noninterest expenses |
17,517 |
17,399 |
20,907 |
26,714 |
27,132 |
| Income before income tax expense (benefit) and cumulative effect of accounting changes |
4,029 |
2,756 |
3,549 |
1,803 |
6,869 |
| Income tax expense |
1,437 |
1,327 |
372 |
434 |
2,643 |
| Income tax expense (benefit) from the change in effective tax rate and the reversing effect |
120 |
215 |
2,817 |
995 |
(9,287) |
| Cumulative effect of accounting changes, net of tax |
– |
151 |
37 |
(207) |
– |
| Net income |
2,472 |
1,365 |
397 |
167 |
13,513 |
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| Key figures |
2004 |
2003 |
2002 |
2001 |
2000 |
| Basic earnings per share |
€ 5.02 |
€ 2.44 |
€ 0.64 |
€ 0.27 |
€ 22.00 |
| Diluted earnings per share |
€ 4.53 |
€ 2.31 |
€ 0.63 |
€ 0.27 |
€ 21.72 |
| Dividends paid per share in period |
€ 1.50 |
€ 1.30 |
€ 1.30 |
€ 1.30 |
€ 1.15 |
| Return on average total shareholders’ equity (post-tax)1 |
9.1% |
4.7% |
1.1% |
2.3% |
41.4% |
| Adjusted return on average active equity (post-tax)2 |
10.5% |
5.2% |
10.2% |
7.1% |
20.1% |
| Cost/income ratio3 |
79.9% |
81.8% |
78.8% |
87.6% |
76.5% |
| BIS core capital ratio (Tier I) |
8.6% |
10.0% |
9.6% |
8.1% |
7.8% |
| BIS capital ratio (Tier I + II + III) |
13.2% |
13.9% |
12.6% |
12.1% |
13.1% |
| Employees (full-time equivalent) |
65,417 |
67,682 |
77,442 |
86,524 |
89,784 |
| 1 |
Net income in 2001 and 2000 is adjusted for amortization of goodwill and other intangible assets. |
| 2 |
We calculate this adjusted measure of our return on average total shareholders’ equity to make it easier to compare us to our competitors. We refer to this adjusted measure as our “adjusted return on average active equity”. However, this is not a measure of performance under U.S. GAAP and you should not compare our ratio to other companies’ ratios without considering the differences in calculation of the ratios. The principal items for which we adjust our ratio are the average unrealized net gains on securities available for sale, net of applicable tax effects. In addition we adjust our average total shareholders’ equity for the effect of our paying a dividend once a year following its approval by the general shareholders’ meeting. Net income used for this calculation is adjusted for the income tax expense from the change in effective tax rate and the reversing effect, for the effect of accounting changes, and in 2001, adjusted for the amortization of goodwill and other intangible assets. |
| 3 |
Total noninterest expenses (excluding amortization of goodwill and other intangible assets in 2001 and 2000) as a percentage of net interest revenues before provision for loan losses plus noninterest revenues (excluding amortization of negative goodwill in 2001). |
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