Three months ended

 

Mar 31, 2009

Mar 31, 2008

The reconciliation of average active equity and related ratios is provided at Target Definitions.

1

Book value per basic share outstanding is defined as shareholders’ equity divided by the number of basic shares outstanding (both at period end).

2

Total noninterest expenses as a percentage of total net interest income before provision for credit losses plus noninterest income.

3

Compensation and benefits as a percentage of total net interest income before provision for credit losses plus noninterest income.

4

Noncompensation noninterest expenses, which is defined as total noninterest expenses less compensation and benefits, as a percentage of total net interest income before provision for credit losses plus noninterest income.

5

The Tier 1 capital ratio excludes transitional items pursuant to section 64h (3) German Banking Act.

Share price at period end

€ 30.30

€ 71.70

Share price high

€ 32.92

€ 89.80

Share price low

€ 15.38

€ 64.62

Basic earnings per share

€ 1.97

€ (0.27)

Diluted earnings per share

€ 1.92

€ (0.27)

Average shares outstanding, in m., basic

603

484

Average shares outstanding, in m., diluted

617

484

Return on average shareholders’ equity (post-tax)

14.7 %

(1.4) %

Pre-tax return on average shareholders’ equity

22.6 %

(2.7) %

Pre-tax return on average active equity

21.9 %

(3.1) %

Book value per basic share outstanding1

€ 52.49

€ 71.69

Cost/income ratio2

67.5 %

103.0 %

Compensation ratio3

41.3 %

63.6 %

Noncompensation ratio4

26.2 %

39.5 %

 

in € m.

in € m.

Total net revenues

7,205

4,616

Provision for credit losses

526

114

Total noninterest expenses

4,864

4,756

Income (loss) before income taxes

1,815

(254)

Net income (loss)

1,182

(141)

 

Mar 31, 2009

Dec 31, 2008

 

in € bn.

in € bn.

Total assets

2,103

2,202

Shareholders’ equity

33.7

30.7

Tier 1 capital ratio5

10.2 %

10.1 %

 

Number

Number

Branches

1,984

1,981

thereof in Germany

982

981

Employees (full-time equivalent)

80,277

80,456

thereof in Germany

28,054

27,942

Long-term rating

 

 

Moody’s Investors Service

Aa1

Aa1

Standard & Poor’s

A+

A+

Fitch Ratings

AA–

AA–