Six months ended

 

Jun 30, 2009

Jun 30, 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

€ 43.20

€ 54.85

Share price high

€ 49.62

€ 89.80

Share price low

€ 15.38

€ 54.32

Basic earnings per share

€ 3.66

€ 1.06

Diluted earnings per share

€ 3.53

€ 1.01

Average shares outstanding, in m., basic

622

485

Average shares outstanding, in m., diluted

645

509

Return on average shareholders’ equity (post-tax)

13.7 %

2.9 %

Pre-tax return on average shareholders’ equity

19.0 %

2.3 %

Pre-tax return on average active equity

18.6 %

2.6 %

Book value per basic share outstanding1

€ 53.44

€ 67.65

Cost/income ratio2

69.3 %

93.7 %

Compensation ratio3

40.3 %

55.7 %

Noncompensation ratio4

29.0 %

37.9 %

 

in € m.

in € m.

Total net revenues

15,181

10,068

Provision for credit losses

1,526

249

Total noninterest expenses

10,524

9,431

Income before income taxes

3,131

388

Net income

2,255

504

 

Jun 30, 2009

Dec 31, 2008

 

in € bn.

in € bn.

Total assets

1,733

2,202

Shareholders’ equity

34.3

30.7

Tier 1 capital ratio5

11.0 %

10.1 %

 

Number

Number

Branches

1,992

1,981

thereof in Germany

981

981

Employees (full-time equivalent)

78,896

80,456

thereof in Germany

28,056

27,942

Long-term rating

 

 

Moody’s Investors Service

Aa1

Aa1

Standard & Poor’s

A+

A+

Fitch Ratings

AA–

AA–