Interim Report
as at Juni 30, 1995

Profile in Figures

                          1.1.-30.6.    1.1.-30.6. 
                               1995           1994 

Profit after Taxes 
per DM 5 share              DM 4.00       DM 4.00
(annualized)                                    


.                              DM m.         DM m.

Net interest income           5,524         5,823 

Net commission income         2,739         3,094

Net income from                                   
financial transactions                          

Administrative expense        6,308         6,031

Risk provisioning               311           885

Operating profit              2,419         2,660

Profit before taxes           1,894         2,469

Taxes                           911         1,492

Profit before taxes             983           977


                          30.6.1995    31.12.1994

Total assets                631,740       573,022

Total credit volume         346,358       331,148

Liabilities                                 
to customers                289,216       264,150

Liabilities in                              
certificate form            114,609       114,015

Off-balance sheet                              

- notional amount         2,045,600     1,781,683

- credit equivalent          14,450        12,612

BIS capital ratio (TierI+II)  10.2%         10.4% 


Langfrist-Rating                                 

- Moody's Investors Service, New York         Aaa  

- Standard & Poor's, New York                 AAA  

- IBCA, London                                AAA  

Frankfurt, July 1995