Deutsche Bank AG - Historische Gesellschaft der Deutschen Bank e.V.
Deutsche Bank AG - Historische Gesellschaft der Deutschen Bank e.V.
Deutsche Bank AG - Historische Gesellschaft der Deutschen Bank e.V.
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Commission surplus on services business Profits on own-account trading<br />
In the reporting year, the bank achieved a surplus Profits on own-account trading in securities<br />
from commissions and other service charges re- stemmed in particular from equities trading. Bond<br />
ceived of DM 2,099.4 m.All seclorsagain contributed dealing was disappointing.<br />
to the rise of DM 176.2 m. The biggest share here Profits on own-account trading in foreign ex-<br />
came from securities business. particularly com- change stabilized at the high level of the previous<br />
mission business in equities. year. Own-account trading in precious metals<br />
achieved higher profits.<br />
Staff and other operating expenses<br />
Staff and other operating expenses amounted to<br />
DM 4,787.1 m.The increment was limited to DM 93.5<br />
m. = 2.0%.<br />
The DM 81.7 m. rise in staff expenses remained -<br />
particularly as a result of the 3.2% fall in the average<br />
number of staff - below the increases of previous<br />
years. Tariff salaries were raised from November 1,<br />
1989 by 4.6% flat. Non-tariff salaries were also in-<br />
creased.<br />
General operating expenses climbed DM 24.0 m.<br />
Depreciation of and adjustments to land and build-<br />
ings and office furnirure and equipment amounted to<br />
DM 433.5 m. This includes normal depreciation of<br />
DM 303.5 m. (-UM 12.2 m.) and special depreciation<br />
in accordance with Section 6b of the lncome Tax Act<br />
of DM 130.0 m. (+DM 77.3 m.).<br />
Partial operating result excluding<br />
own-account trading<br />
-<br />
The partial operating result excluding own-ac-<br />
count trading, which comprises the interest and<br />
commission surplus less staff and other operating<br />
expenses, rase by DM 612.6 m. or 30.3% to DM<br />
2,636.2 m. in 1989.<br />
Operating result<br />
The overall operating result of <strong>Deutsche</strong> <strong>Bank</strong> <strong>AG</strong> -<br />
surplus on current business. including own-account<br />
trading - was up 25.6%. The rise in the interest sur-<br />
plus and the incremental income from equities busi-<br />
ness both made a particular contribution to this<br />
growth.<br />
Other income, including income from the writing<br />
back of provisions for possible loan losses<br />
In the year un<strong>der</strong> review, the bank again made full<br />
use of the possibility provided un<strong>der</strong> Section 4 of the<br />
Or<strong>der</strong> concerning <strong>Bank</strong>s' Statements of Accounts to<br />
offset securities profits and income from written-<br />
back adjustments against write-downs of and ad-<br />
justments to claims and securities. The remaining<br />
"Other income" amounts to DM 409.1 m. (DM 794.3<br />
m. in 1988).<br />
Write-downs, depreciation and adjustments<br />
After the offsetting described above, write-downs<br />
of and adjustments to claims and securities, as well<br />
as transfers to provisions for possible loan losses<br />
amounted to DM 98.8 m. All securities holdings are,<br />
as usual, valued according to the strict "lower of cost<br />
and market" principle. The total provisioning require-<br />
ment for possible loan losses in domestic business<br />
was lower than in the previous year.
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