Due to rounding, numbers presented throughout this document may not add up precisely to the totals we provide and percentages may not precisely reflect the absolute figures.
Fact Sheet
| The Group at a Glance | ||
| Six months ended | ||
| Jun 30, 2004 | Jun 30, 2003 | |
| Share price at period end | € 64.58 | € 56.48 |
| Share price high | € 77.77 | € 60.10 |
| Share price low | € 62.20 | € 32.97 |
| Basic earnings per share | € 3.13 | € 0.60 |
| Diluted earnings per share 1 | € 2.83 | € 0.57 |
| Average shares outstanding, in m., basic | 511 | 588 |
| Average shares outstanding, in m., diluted | 555 | 615 |
| Return on average shareholders’ equity (post-tax) | 11.3% | 2.3% |
| Adjusted return on average active equity (post-tax)2 | 13.4% | 2.8% |
| Pre-tax return on average shareholders’ equity | 19.2% | 8.8% |
| Pre-tax return on average active equity2 | 21.3% | 9.2% |
| Cost/income ratio 3 | 74.0% | 81.2% |
| € m. | € m. | |
| Total revenues | 11,549 | 10,899 |
| Provision for loan losses | 278 | 720 |
| Total noninterest expenses | 8,549 | 8,854 |
| Income before income tax expense, cumulative effect of accounting changes and reversal of 1999/2000 credits for tax rate changes | 2,722 | 1,325 |
| Net income before reversal of 1999/2000 credits for tax rate changes | 1,714 | 399 |
| Net income | 1,598 | 353 |
| Underlying revenues | 11,254 | 11,610 |
| Provision for credit losses | 224 | 683 |
| Operating cost base | 8,524 | 8,736 |
| Underlying pre-tax profit | 2,505 | 2,186 |
| Underlying pre-tax return on average active equity2 | 19.6% | 15.1% |
| Underlying cost/income ratio | 75.7% | 75.2% |
| Jun 30, 2004 | Dec 31, 2003 | |
| € bn. | € bn. | |
| Total assets | 849.2 | 803.6 |
| Loans, net | 141.9 | 144.9 |
| Shareholders’ equity | 27.2 | 28.2 |
| BIS core capital ratio (Tier I) | 9.4% | 10.0% |
| Number | Number | |
| Branches | 1,555 | 1,576 |
| thereof in Germany | 828 | 845 |
| Employees (full-time equivalent) | 65,746 | 67,682 |
| thereof in Germany | 28,073 | 29,857 |
| Long-term rating | ||
| Moody’s Investors Service, New York | Aa3 | Aa3 |
| Standard & Poor’s, New York | AA– | AA– |
| Fitch Ratings, New York | AA– | AA– |
| 1 | Including effect of derivatives on net income applicable for the calculation of diluted earnings per share. The effect for the six months ended June 30, 2004 was € (0.05). |
| 2 | The reconciliation of financial measures is provided on chapter reconciliation of this report. |
| 3 | Total noninterest expenses as a percentage of net interest revenues before provision for loan losses plus noninterest revenues. |