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