Deutsche Bank reports second quarter 2004 pre-tax profit of €1.2 billion and first half 2004 pre-tax profit of €2.7billion

Report Highlights:

• Net income in the second quarter 2004 up 15% to € 656 million (net income of € 1.6 billion for the first half 2004, up 353% versus first half 2003)

• Diluted earnings per share for the second quarter 2004 up 25% to € 1.16

• Provision for credit losses down 75% versus second quarter 2003 to € 83 million; seventh consecutive quarter of declining risk provisions

• Noninterest expenses down by 9% versus both second quarter 2003 and first quarter of 2004

• Private & Business Clients Division reports underlying pre-tax profit of € 244 million, up 49% over the second quarter 2003

• BIS core capital ratio at 9.4% remains above target range despite accelerated share buybacks in second quarter 2004; buybacks to continue
  
  

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