Deutsche Bank today confirmed the provisional results for 2001 published on January 31. Net Income fell from Euros 13.5 billion in 2000 to just Euros 0.2 bn. This year is not looking much better, but Rolf-E. Breuer, spokesman of the Board of Managing Directors of Deutsche Bank, strikes an optimistic note in today’s annual report. “We have used the difficult year 2001 to make our bank even stronger”, he writes. “We feel well equipped for the current 2002 financial year, which promises to be another difficult one. We are facing the risks in our business with healthy caution, but at the same time we are preparing for the new upswing and the ongoing consolidation of our industry. We look forward into the year 2002 with confidence.”
Deutsche detects signs of an upturn in the United States, which it expects to spread to Europe in the second half of the year. The financial markets, the bank believes, will positively react to this development, allowing the bank to increase its revenues. However, the forecasts for Eastern Europe and the emerging markets in Asia and South America are somewhat more cautious. Japan, too, will probably recover only slowly from its recession. Deutsche Bank expects the recovery of the markets in the second half of 2002 to have positive effects on the revenues of its three Group Divisions: Corporate and Investment Bank (CIB), Private Clients and Asset Management (PCAM) and Corporate Investments (CI).