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<p align=justify>Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------<p>Dresdner Bank:half year results characterised by developements in markets and expenses; income after taxes EUR 608 million. Dresdner Bank Group`s business development for the first six months of 2001 was increasingly characterised by weakness in the international capital markets. Therefore, net fee and commission income as well as net trading income remained below the corresponding results in 2000, which had, however, been unusually high. The development in administrative expenses was mainly determined by the first-time consolidation of Wasserstein Perella. The measures concerning cost reduction, which had already been implemented in the Spring, were not yet able to make a tangible impact at the half-year stage. Net loan loss provisions are slightly above last year`s level. In the second quarter, due to the increasingly rapid deterioration of the world economy,it was necessary to take additional provisions for exposures to problem countries, in addition to higher specific and general loan loss provisions. Taking into account results from investment securities, about EUR 300 mln of which derive from gains from sales within the private equity area, group income before taxes for the first six months of 2001 amounted to EUR 616 million. This is a 12.7% decrease as compared to the same period in 2000. After taxes, net income equals EUR 608 million (in 2000 EUR 420 million), EUR 449 million of which are attributable to the second quarter, after EUR 159 million in the first quarter.<p>Details regarding the half-year 2001 results in EURO (first half-year 2000) Net interest and current income 2,091 mln (2,090 mln) +/-0.0 % Net loan loss provisions 567 mln ( 546 mln) +3.8 % Net fee and commission income 2,045 mln (2,296 mln) -10.9 % Net trading income 750 mln ( 914 mln) -17.9 % Results from investment securities 731 mln ( 475 mln) +53.9 % Administrative expenses 4,405 mln (3,715 mln) +18.6 % Income before taxes 616 mln ( 706 mln) -12.7 % Income tax expense 8 mln ( 286 mln) -97.2 % Income after taxes 608 mln ( 420 mln) +44.8 % The complete interim financial statements for the first six months of 2001 can be found in the Letter to Shareholders,which will be available on the internet as of 20 August. Frankfurt, 14 August 2001 Dresdner Bank AG -Board of Managing Directors-<p>end of ad hoc announcement (c) DGAP 14.08.2001 -------------------------------------------------------------------------------- WKN: 535000; Index: Listed: Amtlicher Handel in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München, Stuttgart; EUREX; Amsterdam; Antwerpen; Brüssel; Luxemburg; Paris; Tokio; Wien; Swiss Exchange;<p> 140756 Aug 01<p><br><br>Autor: DGAP import (),07:59 14.08.2001</p> |
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| aus der Diskussion: | DGAP-Ad hoc: Dresdner Bank AG <DE0005350003> english = |
| Autor (Datum des Eintrages): | ad_hoc (14.08.01 07:59:06) |
| Beitrag: | 1 von 1 (ID:4194406) |
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