Interim Report as at June 30, 1995
Group total assets grow substantially to DM 632 billion
Net income from financial transactions up 32.2%
In the first six months of this year, Deutsche Bank Group's total assets grew substantially by DM 58.7 billion, or 10.2%, to DM 631.7 billion. "Size is far more than just an end in itself. In our case it mainly reflects how the financial markets are becoming more intertwined and how Deutsche Bank is integrating into the international financial system," remarked Hilmar Kopper, the Spokesman of the bank's Board of Managing Directors, when presenting the mid-year results at today's press conference.
After the first six months, Group operating profit after risk provisioning amounted to
DM 2,419 million, down DM 241 million, or 9.1%, on the figure for the same period last
year. Compared to half of last year's result, however, operating profit improved by
19.5%. At DM 983 million, Group profit after taxes matched the pre-year figure.
Total credit extended rose by DM 15.2 billion to DM 346.4 billion. Short and medium-
term loans grew by DM 12.8 billion, while long-term lending, which continues to account
for over half of total credit extended, increased by DM 1.8 billion. Advances to banks
rose by DM 0.6 billion. Customers' deposits jumped by DM 25.1 billion to DM 289.2
billion.
Net income from financial transactions increased by 32.2% to DM 439 million. This
incremental income resulted primarily from trading in fixed-income securities, emerging
markets and OTC interest-rate derivatives (swaps). Despite adverse market conditions,
income from foreign exchange trading also improved. In the first six months, net interest
income fell by 5.1% to DM 5,524 million compared to the same period last year. The
narrowing of the interest margin by 0.17 percentage points to 1.92% was not fully offset
by the growth in average total assets. Net commission income declined by 11.5% to
DM 2,739 million.
"The early months of 1995 did not run according to our plans," said Kopper, "but in the
meantime we have every reason to believe that our forecast will prove correct and that
we shall achieve a better result than last year."
The complete interim report is available on this server as well.
