Deutsche Bank AG - Historische Gesellschaft der Deutschen Bank e.V.

and increased profits from foreign exchange trading.
Net income for the year doubled to Can.$6.4 m. (DM
10.0 m.) and is to be added to reserves; capital and
reserves will then increase to Can.$ 71.4 m.
(DM 111.9 m.).
The expansion of balance sheet volume at Deut-
sche Bank Luxembourg S.A., Luxembourg, by ll.OOh
to LF 727 bn. (DM 34.5 bn.) resulted in particularfrom
the growth in long-term lending business.Total credit
extended rose 22.3% to LF 489 bn. (DM 23.2 bn.).
Liabilities to customers, at LF 339 bn. (DM 16.1 bn.),
exceeded for the first time the funds taken up from
banks.
The development of private customer business
and of asset management and portfolio manage-
ment, newly introduced the year before, was very
satisfactory.
The operating result of LF 6.1 bn. (DM 290 m.) was
15.7% above the previous year's level. It is proposed
to the Ordinary General Meeting that net income for
the year in the sum of LF 2.5 bn. (DM 117 m.) be used
to pay an increased dividend of 28% and to add LF 1.1
bn. to reserves. Share capital and disclosed reserves
will then total LF 14.7 bn. (DM 699.8 m.).
The business volume of D5 (Belgium) finance
S.A./NV, Brussels, decreased to BF 12.6 bn. (DM 599
m.). Deposits with banks and holdings of securities
were reduced above all.
Net income for the year of BF 15.7 m. (DM 746,000)
will be added to reserves, as in the previous year.
Capital and reserves will then amount to BF 282.3 m.
(DM 13.4 m.).
After above-average growth in the previous year,
the balance sheet volume of DB UK. Finance p.l.c.,
London, decreased in the reporting year by about
12% to roughly f 695 m. (DM 1.9 bn.).
Net income for the year, which was at the previous
year's level of f 2.3 m. (DM 6.3 m.), is to be kept within
the company, as in the previous year. Capital and
reserves will then increase to £ 21.0 m. (DM 57.1 m.).
Mortgage banks
At Deutsche Centralbodenkredit-AG, Berlin -
Cologne, new mortgage business, at DM 1.6 bn., was
7.5% above the previous year's result. The growth re-
sulted from the 11.3% increase to DM 1.0 bn. in new
loans concluded in the industrial and commercial
sector. New communal loans were concluded in a
volume of DM 1.3 bn. With an almost unchanged loan
portfolio, balance sheet total decreased slightly to
DM 29.2 bn. Funds in the amount of DM 3.7 bn. were
taken up for refinancing purposes.
The bank improved its partial operating result by
0.8% to DM 167.7 m. Of net income for the year in the
amount of DM 58.5 m., DM 29.0 m. was added to
revenue reserves. It is to be proposed to the General
Meeting that a further DM 6.0 m. be transferred to
revenue reserves and a dividend of 28% (previous
year: 24%) distributed. Capital and reserves will then
amount to DM 773 m.
Frankfurter Hypothekenbank AG, Frankfurt am
Main, extended new mortgage loans in the volume
of DM 1.6 bn. (+ 3.5%) in the reporting year, of which
DM 0.5 bn. wasfor residential building and DM 1.0 bn.
for commercial financings. New communal loan
business, at DM 1.6 bn., stood at the previous year's
level. Through the increase in the loan portfolio, the
balance sheet total rose to DM 30.5 bn. Gross sales of
bonds and loans taken up came to DM 3.3 bn.
The partial operating result was 2.1% below the
previous year's level. Of net income for the year of
DM 70.1 rn., DM 35.0 m. was transferred to revenue
reserves. The addition of a further DM 10.0 m. to
revenue reserves will be proposed to the General