Frankfurt am Main, August 4, 2006

Deutsche Bank acquires norisbank


Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) has signed an agreement to acquire norisbank, currently a part of DZ Bank Group. Deutsche Bank will purchase the business conducted under the "norisbank" brand with 334,000 clients, a loan book of EUR 1.4 billion, deposits of EUR 1.6 billion and 98 branches in 58 cities for a preliminary consideration of EUR 420 million.

The acquisition is subject to approval by the relevant regulatory and anti-trust authorities and is expected to be closed in the fourth quarter of 2006. For the purpose of the sale, norisbank's client portfolio, its branches and the right to use the "norisbank" brand were hived off into a legally independent company which will be acquired by Deutsche Bank.

norisbank's employees and its infrastructure systems will remain with DZ Bank Group. In order to ensure a smooth client transition part of the existing norisbank staff and the infrastructure will be available to Deutsche Bank during a transitional phase. In addition, Deutsche Bank will staff the branches with its own employees and prepare the migration of the existing infrastructure to its own systems.

With the acquisition of norisbank, Deutsche Bank is reinforcing its strong position in the German consumer finance market. Deutsche Bank will use the established "norisbank" brand as a first-class platform to develop new client segments for the Group and to enhance its consumer finance business.

Dr. Josef Ackermann, Chairman of the Management Board of Deutsche Bank, said: "Our private client business is an important revenue pillar in Deutsche Bank Group. With the acquisition of norisbank, we are further strengthening our leading position in our home market. This transaction underscores our readiness to make acquisitions in the highly competitive German market if they match with our overall strategic concept."

Rainer Neske, responsible for Private & Business Clients on Deutsche Bank's Group Executive Committee, added: "After the acquisition of Berliner Bank, the purchase of norisbank is another important step in the growth strategy for our business with private clients in Germany. Consumer finance is one of our areas of growth in which we want to accelerate the pace of expansion."

 

 

 

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Deutsche Bank

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. With Euro 1,058 billion in assets and 65,435 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

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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 Press Release that states our intentions, 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 Business Realignment Program; 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 described in detail in our SEC Form 20-F of 23 March 2006 in the section "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.

 




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