Deutsche Bank Reports 2003 Pre-tax Profit of Euro 2.8 Billion

Report Highlights:

• Net income of Euro 1.4 billion versus Euro 0.4 billion in 2002; basic earnings per share up 281 per cent to Euro 2.44

• Underlying pre-tax profit in 2003 of Euro 3.6 billion, up 163 per cent

• Underlying revenues of Euro 21.9 billion, down four per cent - up nine per cent when adjusted for FX effects and the first time impact of consolidations and deconsolidations

• Operating cost base down 11 per cent to Euro 17.3 billion

• Substantial improvement in credit quality during 2003 - problem loans reduced by 39 per cent; provisions for credit losses down 50 per cent
  

• Risk-weighted assets down nine per cent and Tier 1 capital ratio increased to 10 per cent

To read the article in full, please visit the Deutsche Bank Group Press Service website.