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

to DM 133.0 m. A dividend of 18% was distributed for
the 1988189 financial year ended on September 30.
Deutsche Bank Capital Corporation (DBCC), New
York, together with its subsidiaries Deutsche Portfo-
lio Corporation, New York, and Deutsche Bank Gov-
ernment Securiries lnc. (DBCSI), New York, achieved
a result which, given the general earnings situation
on Wall Street, was still satisfactory.
Despite a positive development of prices on the
stock markets, turnover in equities trading did not
keep Pace with the cheerful stock market tendency;
the development in bond business was similar, and
so the earnings situation in these areas was not fully
satisfactory.
International business was successfully de-
veloped, among other things through presentations
of numerous German companies to important in-
stitutional investors in the U.S.A.; here, substantial
equities positions were placed.
Business in U.S. Treasuries was systematically de-
veloped through DBGSI, so that Deutsche Bank
Group now has a strong unit on the world's biggest
bond market.
As at year's end, DBCC reports capital and reser-
ves in the sum of $ 102.3 m. (DM 173.7 m.).
Deutsche Bank Capital Markets Ltd. (DBCM), Lon-
don, achieved steady growth in trading in bonds and
equities.
The new issue volume floated under the lead
management of DBCM came to $4.4 bn. (DM 7.5 bn.)
after $ 3.8 bn. in the previous year. In particular, the
global bond issue of the World Bankfor $1.5 bn. (DM
2.5 bn.), for which DBCM acted as a lead manager
and book-runner, represented an important step in
international issuing business.
In autumn 1989, DBCM commenced trading on
the international futures exchange (LIFFE).
The past financial year closed with a strongly re-
duced loss of f 0.7 m. (DM 1.9 m.). The company's
share capital is reported at an unchanged f 50.0 m.
(DM 136.1 m.).
Deutsche Bank (Suisse) S.A., Geneva, W i th bran-
ches in Zürich and Lugano, participated as member
of the big bank syndicate in 79 Swiss franc issues of
Swiss and foreign issuers with a placement volume
of SF 294.2 m. (DM 322.5 m.).
Balance sheet total rose by 2.1 % to SF 801 m. (DM
877 m.); the volume of assets under management in-
cluding trust business was strongly increased.
The 18% higher net income for the year in the sum
of SF8.3 m. (DM 9.2 m.) stemmed largely from the in-
creased interest surplus and the strong improvement
in commission income. The result will be used to pay
a 6% dividend (SF 6.0 m.) and to add SF 2.3 m. to
reserves. Capital and reserves will then amount to SF
113.7 m. (DM 124.6 m.).
Internationale Investment Management Gesell-
schaft SA., Luxembourg, a subsidiary of DWS Deut-
sche Gesellschaft für Wertpapiersparen mbH, Frank-
furt am Main, and Deutsche Bank Luxembourg, S.A.,
Luxembourg, managed fund assets of DM 8.5 bn. at
year's end. New launchings were the FF-RESERVE, a
short-dated security fund in French francs, and the
DBTIGER FUND, an equity-based fund which invests
its assets in Southeast Asia.
The 1989 financial year closed with a profit of DM
34 m. It is planned to distribute DM 6 m. to sharehol-
ders and to add DM 26 m. to reserves. Capital and
reserves will then amount to DM 39 m.
The Canadian broker firm McLean McCarthy Ltd,
Toronto, reported a balance sheet volume up by
roughly 20% to Can.$89 m. (DM 139 m.) as at the end
of the financial year on October 31, 1989. The not so