2002 Results: Deutsche Bank announces profit

The Bank announced this morning that it achieved a pre-tax income of EUR 3.5 billion in 2002, up from EUR 1.8 billion in 2001.

Key elements of this morning's announcement are that the Bank has:

• Exceeded its targets on cost base reduction and will continue to manage costs down aggressively
• Shown great earnings resilience in tough market conditions
• Strengthened the balance sheet considerably

Josef Ackermann, Chairman of the Group Executive Committee, said: "These results reflect Deutsche Bank's great resilience in today's tough markets. We have made good progress on all our strategic initiatives, resulting in the bank's transformation to a leaner and more disciplined organisation."

To read the article in full, please click on the icon below.

For those users who do not have the required Adobe Acrobat software installed on their computer, a link is provided below for your convenience.