First Quarter Results 2017

CEO Casper von Koskull’s comments on the results: “Since 2009 we have seen a low-intensive but stable growth environment with constantly lower rates. We are witnessing the global recovery gaining strength and becoming more synchronised. Nevertheless, significant geopolitical risks remain. Income momentum has improved and total income is up by 6% compared to the first quarter of 2016, mainly driven by net fee and commission income. Assets under management reached a new all-time high level of EUR 330.1bn, mainly driven by strong performance. Costs are up 5% compared to the first quarter