7ħ Management Letter There is more than one answer to this. We are constantly asked why APO-Bank is able to resist the general structural and earnings problems in the lending sector and, not only that, but also improve its operating results at times when the financial position of members of the medical professions is under pressure. 1 position as the provider of financial services to the medical professions.

As a result, we can look back at a wholly satisfactory development in the 2003 Financial Year that has contributed to the inherent stability of the bank and also helped to consolidate its no. Furthermore, considerable resources were again deployed to complete the Basel II project on time and implement the minimum requirements for the credit business of credit institutions (Mindestanforderungen an das Kreditgeschäft der Kreditinstitute (MaK)). Strategic projects were further pursued in addition to business policy decisions affecting assets and liabilities and include measures to reinforce sales but also measures to enhance the efficiency of internal processes. Expansion of the balance sheet total also followed a constant growth curve in the year 2003 and there was particular emphasis on preserving the balanced structure.

Further improvements were made in the income items of the profit and loss account while the rise in personnel and operating expenses remained within the budget limits.

1 Deutsche Apotheker- und Ärztebank Annual Report Annual Report 2003Ģ Deutsche Apotheker- und Ärztebank Annual Report 2003ģ Summary of Business Development Change million million in % Balance Sheet Total 25,596 22, Customer Loans 16,837 15, Client Deposits 16,967 15, Liable Equity Capital 2,110 1, Operating Profit before Provision for Risks Distributable Profit Equity Ratio 11.4 % 10.5 % Change in % Employees 1,914 1, Customers 263,, Members 97,432 93,Ĥ Content Management Letter Agenda of the Annual General Meeting Board of Directors Supervisory Board Honorary Chairpersons, Honorary Postholders Report of Board of Directors Management Report 2003 Summary of Business Development Lending Deposits Sales Channels New Concepts in Consultancy Services Investment Business Banking Operations Equity Capital Our Staff Risk Report Rating Outlook Report of the Supervisory Board Corporate Governance Code Annual Declaration of Conformity In memoriam Financial Statements for 2003 Balance Sheet Profit and Loss Account Notes Advisory Council About the Bank Division Heads, Unit Heads at Head Office, Heads of Regional Divisions Branch Directors, Branch Managers, Heads of Regional Credit Offices Head Office, Branches Regional Divisions History of the BankĦ Management Letter Dear Members, Customers and Business Partners, As Deutsche Apotheker- und Ärztebank (APO-Bank) enters its second century, we on the Board of Directors have rated the Annual Financial Statements now being presented internally as more than just satisfactory.

Deutsche bank starmoney 6.0