IR Releases - Archive

Beijing, October 17, 2005

Deutsche Bank and Sal. Oppenheim jr. & Cie. KGaA buy 14 percent of Hua Xia Bank for €272 million

Deutsche Bank will enter into a cooperation agreement in credit cards, affluent banking and technology with Hua Xia Bank

Hua Xia Bank, Deutsche Bank (XETRA:DBKGn.DE/NYSE:DB) and Sal. Oppenheim jr. & Cie. KGaA, today announced that a consortium comprising Deutsche Bank and Sal. Oppenheim have signed a binding agreement to buy a total of 587.2 million shares in Hua Xia Bank, amounting to a 14 percent shareholding. Subject to regulatory approvals Deutsche Bank and Sal. Oppenheim will purchase the shares from 18 shareholders of Hua Xia Bank for a total of €272 million. Deutsche Bank will take 9.9 percent of Hua Xia Bank, while Sal. Oppenheim will take 4.1 percent.

Deutsche Bank and Hua Xia Bank will also enter into a wide ranging cooperation agreement. This will include the Banks’ partnering in credit cards, affluent customer business, the distribution of investment products, and cash management services. Deutsche Bank will also provide comprehensive technical support and assistance to Hua Xia Bank in relation to risk management, retail and corporate banking, and governance. Initially Deutsche Bank will also be granted one seat on Hua Xia Bank’s board.

Liu Haiyan, Chairman of Hua Xia Bank, said at the signing ceremony, “Deutsche Bank is one of the worlds leading financial institutions with a long history and great depth of experience. The cooperation between Hua Xia Bank and Deutsche Bank will deliver exciting opportunities for the partnership and realize significant mutual benefits."

Rainer Neske, Member of the Group Executive Committee of Deutsche Bank said, “In Hua Xia Bank, we have a strong and respected strategic partner in China, which is an important growth market for Deutsche Bank. This investment will enable us to participate directly in the development of China’s retail financial services sector; a dynamic market, with rapidly growing consumer affluence and significantly increasing financial sophistication. There is a significant opportunity to leverage our international retail and financial product expertise into this exciting market.”

This Release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations. Any statement in this Release that states our inten-tions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include: the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues; potential defaults of borrowers or trading counterparties; the implementation of our management agenda; the reliability of our risk management policies, procedures and methods; and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are de-scribed in detail in our SEC Form 20-F of 24 March 2005 in the section "Risk Factors." Copies of this document are readily available upon request or can be downloaded from

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