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Group Five-Year Record

Balance Sheet in € m.

2006

2005

2004

2003

2002

Total assets

1,126,230

992,161

840,068

803,614

758,355

Loans, net

168,134

151,355

136,344

144,946

167,303

Liabilities

1,093,422

962,225

814,164

775,412

728,364

Total shareholders’ equity

32,808

29,936

25,904

28,202

29,991

Tier I risk-based capital ((Glossary)BIS)

24,498

21,898

18,727

21,618

22,742

Total risk-based capital (BIS)

35,323

33,886

28,612

29,871

29,862

 

 

 

 

 

 

Income Statement in € m.

2006

2005

2004

2003

2002

Net interest revenues

6,919

6,001

5,182

5,847

7,186

Provision for loan losses

330

374

372

1,113

2,091

Commissions and fee income

11,544

10,089

9,506

9,332

10,834

(Glossary)Trading revenues, net

8,247

7,429

6,186

5,611

4,024

Other noninterest revenues

1,628

2,121

1,044

478

4,503

Total net revenues (after provision for loan losses)

28,008

25,266

21,546

20,155

24,456

Compensation and benefits

12,649

10,993

10,222

10,495

11,358

(Glossary)Goodwill amortization/impairment and impairment of intangibles

31

–

19

114

62

Restructuring activities

192

767

400

(29)

583

Other noninterest expenses

7,011

7,394

6,876

6,819

8,904

Total noninterest expenses

19,883

19,154

17,517

17,399

20,907

Income before income tax expense and cumulative effect of accounting changes

8,125

6,112

4,029

2,756

3,549

Income tax expense

2,186

2,039

1,437

1,327

372

Effect from the reversal of 1999/2000 credits for tax rate changes

(1)

544

120

215

2,817

Cumulative effect of accounting changes, net of tax

46

–

–

151

37

Net income

5,986

3,529

2,472

1,365

397

 

 

 

 

 

 

Key figures

2006

2005

2004

2003

2002

Basic (Glossary)earnings per share

€ 13.31

€ 7.62

€ 5.02

€ 2.44

€ 0.64

Diluted earnings per share

€ 11.55

€ 6.95

€ 4.53

€ 2.31

€ 0.63

Dividends paid per share in period

€ 2.50

€ 1.70

€ 1.50

€ 1.30

€ 1.30

(Glossary)Return on average total shareholders’ equity (post-tax)

19.5 %

12.5 %

9.1 %

4.7 %

1.1 %

(Glossary)Adjusted return on average active equity (post-tax)1

22.2 %

16.2 %

10.5 %

5.2 %

10.2 %

(Glossary)Cost/income ratio2

70.2 %

74.7 %

79.9 %

81.8 %

78.8 %

BIS core capital ratio (Tier I)

8.9 %

8.7 %

8.6 %

10.0 %

9.6 %

(Glossary)BIS capital ratio (Tier I + II + III)

12.9 %

13.5 %

13.2 %

13.9 %

12.6 %

Employees (full-time equivalent)

68,849

63,427

65,417

67,682

77,442

1

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 (Glossary)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 (Glossary)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 and for the effect of accounting changes.

2

Total noninterest expenses as a percentage of net interest revenues before provision for loan losses plus noninterest revenues.