Facts and Figures

Deutsche Bank
at a glance

A Passion to Perform.

Deutsche Bank in brief

Deutsche Bank is a leading global investment bank with a
strong and profitable private clients franchise.
A leader in Germany and Europe, the bank is continuously
growing in North America, Asia and key emerging markets.
Its 63,000 employees serve clients in 73 countries worldwide; more than half of the bank's staff works outside
Germany.
Deutsche Bank offers its clients a broad range of first-class
banking services. It provides private clients with an all-round
service extending from account-keeping and cash and
securities investment advisory to asset management. The
bank offers corporate and institutional clients the full product assortment of an international corporate and investment
bank from payments processing and corporate finance to
support with IPOs and M&A advisory. In addition, the bank
has a leading position in international foreign exchange,
fixed-income and equities trading.
Deutsche Bank is committed to serving all those who have
a stake in its success: shareholders, clients, staff, and the
communities in which the bank operates. This is the core
of Deutsche Banks corporate culture across the world. This
culture is based on shared values, and aims to foster a spirit
of creativity, individuality and action.

Group Divisions
The Management Board of Deutsche Bank has as its prime
responsibility the strategic management, resource allocation, financial accounting and disclosure, risk management
and control of the Group. The Group Executive Committee
which supports the Management Board in its decisionmaking is made up of the members of the Management
Board, the heads of the businesses and the Head of
Regional Management.
Deutsche Bank has five core businesses:
Global Markets comprises all sales, trading and research
in equity, debt and other products, including: bonds,
commodities, equities, equity-linked products,
exchange-traded and OTC derivatives, foreign exchange,
money market instruments, asset- and mortgage-backed
securities and hybrid products. Global Markets covers
debt and equity origination jointly with Corporate
Finance.

Global Banking comprises Corporate Finance and Global

Transaction Banking. Corporate Finance covers M&A
advisory, Debt Capital Markets (DCM), Equity Capital
Markets (ECM), Asset Finance & Leasing, Commercial
Real Estate, and corporate lending businesses. Global
Transaction Banking comprises Cash Management,
Trade Finance and Trust & Securities Services.
3

 Asset Management provides institutional clients with

a full range of services including traditional asset management, sophisticated absolute return strategies and
specialist real estate asset management, and provides
retail clients across the globe with mutual fund products
through its DWS Investments and DWS Scudder franchises.

Private Wealth Management serves high net worth

individuals and families worldwide with a fully-integrated
wealth management service embracing portfolio
management, inheritance planning and philanthropic
advisory services.
Private & Business Clients provides private individuals
and businesses with a full range of banking products,
from current accounts through to deposits and loans,
and with investment management products and services. It operates in its core markets Germany, Italy and
Spain as well as in a number of other countries in Europe
and Asia.

Corporate Governance
The bank ensures responsible, value-driven management
and control through effective corporate governance, which
has the following key elements: good relations with shareholders, effective cooperation between the Management
Board and the Supervisory Board, a system of performancerelated compensation, and transparent, timely reporting.
The fundamental basis for this is provided by, first and
foremost, the German Stock Corporation Act and the German Corporate Governance Code. Since the banks shares
are also listed on the New York Stock Exchange, Deutsche
Bank is subject to the relevant U.S. capital market legislation
as well as the rules of the Securities and Exchange Commission (SEC) and the New York Stock Exchange.
Shareholders are involved via their voting rights in the most
important decisions of the bank, such as amendments to
the Articles of Association, the issue of new shares and
important structural changes. Deutsche Bank has only one
class of share, with each share carrying the same voting
rights.
To make it easier for shareholders to exercise their voting
rights, Deutsche Bank provides electronic media for the
General Meeting. For example, shareholders can issue their
voting instructions via the Internet and the speech of the
Chairman of the Management Board is broadcast.

The Deutsche Bank Share

With roughly 412,000 shareholders, Deutsche Bank is one
of Germanys largest publicly held companies. The proportion of its shares in German ownership was 52 % at the end
of 2005; foreign ownership accounted for 48 % of the share
capital. Of the shares issued, 84 % are held by institutional
investors (including banks) and 16 % by private investors.
The bank is not aware of any major shareholders whose
holding exceeds 5 %.
Deutsche Bank informs its shareholders regularly about its
business and its strategy. It offers an interactive Annual
Report and Interim Reports on its website. Additional
information for shareholders is available via a shareholder
hotline, the Internet and the banks Internet mailing list.
Long-term value development
Deutsche Bank
DAX
1,500

1,300

1,100

900

700

500

300

100
81

83

85

87

89

91

93

95

97

99

Total Return Index, beginning of 1980 = 100, quarterly figures

Source: Datastream

01

03

05

Deutsche Bank had a market value of 45.4 billion at the

end of 2005. In the German share index DAX, the bank had
a weighting of 7.3 % at year-end. Total turnover in Deutsche
Bank shares was approximately 149 billion in 2005, the
fourth highest among DAX stocks.
Deutsche Bank shares have been a highly attractive longterm investment. An investor who bought the equivalent of
10,000 in Deutsche Bank shares in 1980, reinvested cash
dividends and participated in capital increases, without
injecting additional funds, would have had an investment
worth 130,921 at the end of 2005. This corresponds to an
average annual return of 10.4 %. By comparison, the DAX
returned 9.6 % per year over this period.

Useful information on the Deutsche Bank share

2005
Change in total return1

28.8 %

Share in equities trading (Xetra and Frankfurt Floor Trading)

Average daily trading volume2

5.2 %

3.71 million shares

As of December 31, 2005

Issued shares

554,535,270

Outstanding shares

505,557,676

Share capital

1,419,610,291.20

Market capitalization

45.42 billion

Share price3

81.90

Weighting in the DAX

7.3 %

Weighting in the Dow Jones STOXX 50

1.4 %

Securities identification codes

Deutsche Brse
Type of issue

New York Stock Exchange

Registered
share

Symbol

DBK

WKN
ISIN
Reuters
1
2
3

514 000
DE0005140008
DBKGn.DE

Type of issue
Currency
Symbol
CINS
Bloomberg

Global Registered
Share
U.S.$
DB
D 18190898
DBK GR

Xetra.
Order book statistics (Xetra).
Xetra closing price.

Clients
Deutsche Banks success depends on its ability to create
superior, lasting value for its clients.
The banks permanent goal is to continuously improve its
relationships with its clients, to contribute to their financial
success and react quickly to new challenges. It recognizes
that it will only win the long-term trust of its clients if it
creates value for them.
Through close cooperation between the various units,
Deutsche Bank ensures that its clients obtain the greatest
possible benefit from the expertise of a globally aligned
bank.

Number of clients
Structural Data
Corporate and
Investment Bank

2005

2004

2003

54,812

54,524

54,884

13,410,000

13,331,000

13,045,000

2,500,088

2,527,598

2,605,376

2,5802

3,722

3,829

123,000

111,000

106,000

Private Clients and

Asset Management
Private and Business
Clients
Asset and Wealth
Management
Retail Asset
Management1
(Germany, Luxembourg)

Institutional Asset
Management
Private Wealth
Management1
1
2

Number of accounts.
Reflects the sale of parts of the UK and Philadelphia-based institutional businesses.

Staff
Deutsche Bank Global Presence

Regional deployment
Total staff:

63,427

of whom in
Germany

41.5 %

other Europe

29.1 %

Americas

18.1 %

Asia/Pacific

11.3 %

As Deutsche Bank seeks to deliver to its clients, it stands

or falls by the quality of its people. The competence and
experience of its people is what delivers the value the
clients expect.
The bank supports its employees by retaining, and developing the finest professionals, motivating these professionals
by enhancing their skills, and offering prospects for career
development and reward.
Deutsche Banks international orientation is reflected in its
staff: more than half of the banks employees works outside
Germany.

Society
Deutsche Bank is an active corporate citizen worldwide. In
2005, together with its foundations and charitable organizations, Deutsche Bank contributed nearly 90 million for
social and cultural initiatives. In all of its citizenship activities, education plays a central role; the aim of the bank is
to enable people to realize their full potential and achieve
their goals. In doing so, Deutsche Bank staff play an important role. They help with more than money, in other
words with know-how, experience and personal volunteering
efforts, whenever possible.
Financial literacy and cultural education form one of the
main pillars of Deutsche Banks commitment to society: for
example, in projects in which bank staff teach youngsters
about finance and economics, or in the project Enriching
Curriculum Learning which integrates art and music into
classroom routine.
An exemplary product of Deutsche Banks commitment to
society coupled with its financial expertise is the Global
Commercial Microfinance Consortium. This groundbreaking 64 million fund is managed by Deutsche Bank in
New York. It provides capital to microfinance institutions
around the world thus helping in the fight against poverty.
Sustainability plays a role not only in the banks citizenship
activities, but also in its business practices. In 1999,
Deutsche Bank became the first major bank in Germany
to have its sustainability management system ISO certified.
This system takes into account sustainability aspects of the
banks global operations and measures taken for operational environmental protection.

10

Dates, facts and figures

1870

Deutsche Bank is founded in Berlin its purpose: to transact

banking business of all kinds, in particular to promote and facilitate
trade relations between Germany, other European countries, and
overseas markets.

1871/72 First branches in Bremen and Hamburg, followed by more branches

in, for example, Frankfurt am Main, Munich, Leipzig and Dresden.
1873

Opening of the first European foreign branch in London.

1876

Acquisition of Berliner Bank-Verein and Deutsche Union-Bank;

through the acquisition of other regional institutions, the bank
strongly expands its position in Germany until the 1920s.

1929

Merger of Deutsche Bank and Disconto-Gesellschaft, at that time

the biggest ever merger in German banking history.

1945

Closure of head office in Berlin and of branches in the Sovietoccupied zone. Deutsche Bank is run by its Hamburg management.
In the Western occupation zones, Deutsche Bank is split up into
separate independent banks.

1957

The disincorporation of the bank by the Allies after World War II first
into ten and then into 3 institutions is ended. Re-amalgamation of
the three successor banks to form Deutsche Bank AG, a joint stock
corporation with its registered office in Frankfurt am Main.

1959

Deutsche Bank enters retail banking with the introduction of small

personal loans.

1970

Foundation of todays Deutsche Bank Luxembourg S.A.; in the next

ten years, the bank pushes ahead with the internationalization of its
business; offices are opened at new locations such as Moscow,
London, Tokyo, Paris and New York.

1986

Acquisition of Banca dAmerica e dItalia; this is the first time the

bank has acquired a sizeable branch network in another European
country.

1989

Acquisition of Morgan Grenfell Group; with this step, Deutsche

Bank strengthens its position in international securities business
and expands its presence on the important London capital market.

1990

Deutsche Bank starts operations in Germanys new federal states

with the foundation of Deutsche Bank-Kreditbank AG.

1993

Acquisition of Banco de Madrid S.A. and Banca Popolare di

Lecco SpA; Deutsche Bank becomes the biggest foreign bank in
Spain and Italy.

1999

Acquisition and integration of Bankers Trust in the U.S.A.

2001

The Deutsche Bank share is traded for the first time on the New York
Stock Exchange.

2002

Acquisition of Scudder Investments, the U.S. asset management

firm.

2006

Complete acquisition of the Russian investment bank United

Financial Group (UFG)

11

A Profile in Figures
2005

2004

Share price at period end

81.90

65.32

Share price high

85.00

77.77

Share price low

60.90

52.37

Dividend per share (proposed for 2005)

2.50

1.70

Basic earnings per share

7.62

5.02

Diluted earnings per share

6.95

4.53

Average shares outstanding, in m., basic

463

493

Average shares outstanding, in m., diluted

509

532

Return on average total shareholders equity

(post-tax)

12.5 %

9.1 %

Adjusted return on average active equity (post-tax)

16.2 %

10.5 %

Pre-tax return on average total shareholders equity

21.7 %

14.8 %

Pre-tax return on average active equity

24.3 %

16.3 %

Pre-tax return on average active equity

(per target definition)

24.7 %

Cost/income ratio

74.7 %

79.9 %

in m.

in m.

25,640

21,918

Total revenues
Provision for loan losses
Total noninterest expenses

374

372

19,154

17,517

Income before income tax expense and

cumulative effect of accounting changes

6,112

4,029

Net income

3,529

2,472

Dec 31, 2005 Dec 31, 2004

in bn.
in bn.
Total assets

992

Loans, net

151

136

Shareholders equity

29.9

25.9

8.7 %

8.6 %

Number

Number

1,588

1,559

BIS core capital ratio (Tier I)

Branches
thereof in Germany
Employees (full-time equivalent)
thereof in Germany

840

836

831

63,427

65,417

26,336

27,093

Aa3
AA
AA

Aa3
AA
AA

Long-term rating
Moodys Investors Service, New York
Standard & Poors, New York
Fitch Ratings, New York
Dates and figures as of December 31, 2005

Further information
on the Internet: www.deutsche-bank.com

003 72020 02 4/06