Deutsche Bank continues profitable growth with private & business clients

Results to increase to € 1 billion by 2004

In October 2002 Deutsche Bank will combine its strengths and competencies in its private and business client unit into an integrated European offer. To this end, it will amalgamate current independent service offerings under a single management and the Deutsche Bank brand.

Â'Private & Business Clients is the right answer to the changes in the markets and the needs of modern customers in Europe for comprehensive financial and advisory services - both professional and private - with a single bank accountÂ', stated Dr. Herbert Walter, Global Head Private & Business Clients and Member of the Group Executive Committee of Deutsche Bank.

In addition to integrating a wide-ranging group of customer-oriented offers for private and business clients, Deutsche Bank will streamline its operations, thus directing the entire organization towards advisory services and distribution by introducing an efficient performance management. Â'We want to make Private & Business Clients an even more profitable core business which has not to avoid any comparisons with international competitors. It is our goal to significantly increase our operating result to € 1 billion by 2004, thus gaining a top position in the European leagueÂ', said Walter.

For this purpose, attractive customer target groups will be addressed in line with their needs in the key markets of Germany, Italy, Spain, as well as Belgium, Portugal, Poland and the Netherlands.

With 12.6 million private and business customers throughout Europe, of which 8.3 million are situated in its domestic market in Germany, Deutsche Bank has a strong starting position. Private & Business Clients is aiming at more than 60 million modern private and active business clients in Europe.

Â'Modern banking customers are looking for holistic and competent advice on planning, investing and financial solutions that translate seamlessly into financial solutions. At the same time, they want top-of-the-range offers for daily banking, this means convenient access and best serviceÂ', said Walter. Â'They are looking for a financial partner with a strong brand that stands for competence and trust.Â'

Eight target groups will be catered for by 1,300 Â'Investment & FinanceCentersÂ' across Europe, of which 770 are in Germany. Together with these, the classic branch network will be modernized. Moreover, highly specialized teams are available at selected locations: in Germany 170 teams for Private Banking and 150 teams for 850,000 business customers. Moreover, modern access channels are open to all Deutsche Bank customers. The Â'Investment & FinanceCenters in Germany are additionally backed up by 300 self-service centres, and commencing next year, some 120 agencies for modern financial planning will be established. Online banking and brokerage facilitate additional access channels for customers.

The introduction of the new offer for private and business clients will be carried out on a gradual basis from October 2002. After the technical conversion of all systems by the start of the month, a comprehensive communications campaign on television and in the print media will commence from mid-October onwards and with the actual launch of Deutsche Bank Private & Business Clients in the market.

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(source: Deutsche Bank)

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