All Stories
Follow
Subscribe to Deutsche Bank AG

Deutsche Bank AG

ots Ad hoc-Service: Deutsche Bank AG <DE0005140008> Deutsche Bank ends 1999 financial year with record results

Frankfurt (ots Ad hoc-Service) -

The sender is solely responsible for the contents of this
announcement.
- Net income rises by just under 50% to EUR 2.6 billion - Strong
growth in net commission income and trading profit - Successful
integration of Bankers Trust
Below are Deutsche Bank's provisional key figures for the 1999
financial year.
In 1999, the Group substantially increased its revenues. Net
commission income rose by more than 50% to EUR 8.1 billion. Trading
profit was no less than 170 % higher at roughly EUR 4.8 billion. This
positive development of business was supported by the successful
integration of Bankers Trust, which had a favourable influence above
all on net commission income.
The increase of roughly 55 % in general administrative expenses is
attributable to the growth of business and the first-time
consolidation of Bankers Trust. Our measures to cut costs and improve
structures counteracted this trend.
Net income before restructuring expenses and before taxes rose by
23% to EUR 5.0 billion. This also takes account of the proportionate
amortization of the goodwill for Bankers Trust. Net income improved
strongly by almost 50 % to EUR 2.6 billion.
Expenses for restructuring amount to just under EUR 900 million.
They are connected in particular with the integration of Bankers
Trust and the implementation of the new distribution platform at
Deutsche Bank 24.
The growth in the Group's total assets as at 31 December 1999 to
roughly EUR 840 billion was due largely to the increase in assets
held for dealing purposes and higher lendings to customers. Total
credit extended rose by roughly 15 % to approximately EUR 285
billion.
At the General Meeting on 9 June 2000, it is to be proposed to
shareholders that the dividend for the financial year ended be raised
to EUR 1.15 per share (previous year: EUR 1.12). Due in particular to
the capital increase carried out in April 1999, the dividend
appropriation for the 1999 financial year, at over EUR 706 million,
is roughly 18 % higher than in the previous year.
Deutsche Bank will publish its Consolidated Financial Statements
for the 1999 financial year on 6 April 2000.
End
Internet: http://www.newsaktuell.de

Original content of: Deutsche Bank AG, transmitted by news aktuell